Articles by Tim Burroughs
Ex-Eaton Asia head targets asset management, GP stakes
Chris Lerner, formerly of Eaton Partners and MSA Capital, has established an asset management operation that will ultimately raise an Asian fund-of-funds and teamed up with US-based Bonaccord Capital Partners to expand its GP stakes business into the...
Northstar's managing partner to become CEO of GoTo
Patrick Walujo, a co-founder and managing partner of Northstar Group, has been appointed group CEO of Indonesian super app GoTo, with the Southeast Asia-focused private equity firm telling LPs it expects minimal impact to day-to-day business.
Australia's CPE Capital set to lose managing director
Graham Brooke, a managing director at Australia-based CPE Capital, will retire from the firm at the end of September.
Affinity's Korea head resigns
Sam Lee has resigned from his position as a partner and head of Korea at Affinity Equity Partners, ending a 15-year tenure with the pan-regional private equity firm.
KKR secures partnership with Japan Post Insurance
Japan Post Insurance (JPI) has launched a strategic partnership with KKR and the private equity firm’s insurance subsidiary Global Atlantic Financial Group. The deal will give JPI access to a broader range of investments and support its diversification...
Bain boosts take-private offer for Australia's Estia
Bain Capital has increased its take-private offer for Australia-listed aged care provider Estia Health – to a point where the business is valued at about AUD 826.8m (USD 550m) – after an earlier bid was rejected.
Monolith closes debut China VC fund on $264m
Sequoia Capital China spinout Monolith Management has closed its debut venture capital fund at USD 264m, surpassing the hard cap of USD 250m.
NewQuest, GIC back Everbridge's South Asia continuation fund
NewQuest Capital Partners and GIC have supported a USD 267m continuation fund for Capital Group Private Markets spinout Everbridge Partners, two years after a larger deal involving some of the same assets failed to close amid portfolio volatility.
Sequoia shifts to independent partnerships, separate brands
Sequoia Capital’s China and India-Southeast Asia VC operations will be renamed HongShan and Peak XV Partners, respectively, as they formally separate from the US entity and become independent partnerships.
Japan buyouts: Bucking the trend
Japan remains a private equity hotspot despite muted buyout activity elsewhere in Asia. Take-private and sponsor-to-sponsor opportunities make for a more textured local market
Quadrant scales up Australia growth equity fund to $397m
Australia’s Quadrant Private Equity upsized the debut fund under its new growth-stage strategy to AUD 600m (USD 397m), having originally targeted AUD 300m.
India satellite imaging player Pixxel gets $36m Series B
Google is one of several new investors in a USD 36m Series B round for Pixxel, an India-based satellite imaging provider targeting climate change use cases. The company has now raised USD 71m in private funding to date.
India home rentals platform NestAway acquired by strategic player
Aurum PropTech, a listed Indian property technology provider, has acquired NestAway, a home rentals platform that previously received several rounds of private funding, for INR 900m (USD 11m).
DCP agrees carve-out of Cargill's China poultry unit
DCP Capital has agreed to buy the China-based poultry business of US-headquartered food and agriculture corporation Cargill for an undisclosed sum.
Australia's GenesisCare files for US bankruptcy protection
GenesisCare, an Australia-headquartered cancer care provider in which KKR holds a minority stake, has filed for bankruptcy protection in the US and announced a restructuring that will separate US operations from those in Australia, Spain, and the UK.
Investor caution, bid-ask spreads hold back China secondaries
Secondaries investors see a lot of potential GP-led deal flow coming out of China, but completion rates are being held back by caution among buyers and a reluctance among sellers to compromise on valuations.
Australia’s Real Pet Food taps investors for equity injection
Hosen Capital, New Hope Group, and Temasek Holdings have led a AUD 248m (USD 161.2m) equity injection into Australia-based chilled pet food supplier Real Pet Food to pay down debt and support growth.
Singapore’s Temasek punishes staff for FTX investment
The investment and senior management of Singapore’s Temasek Holdings will receive reduced compensation in recognition of the write-down of an investment in collapsed cryptocurrency exchange FTX despite an independent internal review finding no evidence...
HighLight updates final close timeline for China healthcare fund
HighLight Capital, a Chinese life sciences investor, has pushed out the final close on its fourth US dollar-denominated fund to the third quarter amid challenging fundraising conditions for the industry.
Deal focus: Chalo thinks beyond the bus stop
India bus-tracking app Chalo is helping fleet operators eliminate fraud and improve efficiency while giving passengers greater visibility on services. It is keen to scale – geographically and vertically
Deal focus: Go aims to bring Japan’s taxis up to speed
Goldman Sachs-backed taxi-hailing platform Go wants to address Japan’s taxi driver shortage and bring digitalisation to an industry that remains rooted in an analogue world
LP interview: Escala Partners
Escala Partners is one of a cluster of Australia-based wealth management platforms attracting more attention from private equity fundraisers. Getting on its approved list requires push as well as pull
Prosperity7 backs China autonomous driving player Hyperview
Prosperity7 Ventures, a growth equity fund established by Saudi Arabia state oil giant Saudi Aramco, has invested in Hyperview, a China-based autonomous driving technology provider.
India home appliance manufacturer Atomberg raises $86m
Steadview Capital and Singapore’s Temasek Holdings have led a USD 86m funding round for Atomberg Technologies, an India-based home appliances manufacturer best known for its electric motor fans.