Articles by Tim Burroughs
Primavera makes $600m China cleantech investment
Primavera Capital Group has invested $600 million in two subsidiaries of Envision Group, a China-based manufacturer of wind turbines, smart batteries, and renewable energy management systems.
Japan's WM, AIC launch secondary fund targeting LP stakes
WM Partners and Alternative Investment Capital (AIC) are looking to raise a JPY10 billion ($88 million) secondary fund that will primarily target LP positions in Japan-focused private equity funds.
ADIA to lead pre-IPO round for Indonesia's GoTo
Abu Dhabi Investment Authority (ADIA) has committed $400 million to Indonesia super app GoTo as the lead investor in a funding round ahead of the company’s much-anticipated IPO.
Reliance Retail buys Indian fashion brand, Everstone exits
Everstone Group has exited its minority position in India-based design house Rita Kumur after domestic behemoth Reliance Industries moved to buy a 55% stake in the company.
Australia's Allegro seeks $449m for Fund IV
Australia-based turnaround specialist Allegro Funds is targeting A$600 million ($449 million) for its fourth fund, more than twice what it raised in the previous vintage.
Japan fundraising: Regional banks revisited
Japan’s regional banks have risen from a low base to become a meaningful LP constituency for local middle-market managers. Their staying power might be a function of broader industry consolidation
MBK agrees $1b China theme park deal
MBK Partners has agreed to buy five ocean theme parks in China – four operational and one under construction – from Hong Kong-listed Haichang Ocean Park Holdings for RMB6.53 billion ($1.01 billion).
China's Trustar buys European EV charging specialist
Trustar Capital, formerly known as CITIC Capital Partners, has invested an undisclosed sum in Intramco, a Europe-based manufacturer of components used in electric vehicle (EV) charging.
AVCJ Awards 2021 - voting closes November 2
Voting for the 2021 AVCJ Private Equity & Venture Capital Awards is now open and runs until November 2.
Hahn & Co's K Car raises $285m in Korean IPO
K Car, a Korean automotive marketplace created by Hahn & Company through the merger of SK Encar and Joy Rent a Car, has raised KRW336.6 billion ($285 million) in a domestic IPO.
PE-backed Abbisko trades up after $225m Hong Kong IPO
China-based oncology drug developer Abbisko Therapeutics gained nearly 10% on its Hong Kong trading debut following a HK$1.75 billion ($225 million) IPO.
Hillhouse upsizes growth fund to $5.2b
Hillhouse Investment, the buyout and growth capital unit of Asia-focused Hillhouse Group, has raised $5.2 billion for a growth equity fund, more than twice the original target.
Baring Asia creates sustainability-linked credit facility
Baring Private Equity Asia (BPEA) has secured a $3.2 billion loan to support its private equity platform with interest rate reductions linked to performance against a series of sustainability metrics.
Anchor raises $1.6b for Korea, North Asia
Anchor Equity Partners has closed its fourth Korea and North Asia-focused fund with $1.6 billion in commitments after approximately five months in the market.
Rise Climate, ADQ commit $994m to Tata Motors EV unit
TPG Rise Climate, a climate-focused strategy under TPG’s global impact investment platform, has agreed to invest INR75 billion ($994 million) in the electric vehicle (EV) unit of India’s Tata Motors.
AVCJ daily bulletin returns October 15
AVCJ’s daily bulletin will not be published on October 14 due to a public holiday in Hong Kong.
Vision Fund: Big is beautiful?
Previously the sole elephant in Asia’s growth-stage technology space, SoftBank’s Vision Fund program is now one of a herd. Prevailing amid increased competition may prove its thesis once and for all
3Q analysis: India advances
India technology investment continues to ramp up as China flatlines; international payments M&A drives Asia trade sale revival, but IPOs slump; fundraising remains slow
Q&A: Glow Capital Partners' Justin Ryan
Having teamed up with the founder of Adore Beauty to launch Glow Capital Partners, Justin Ryan discusses life after Quadrant Private Equity, growth-stage investment in Australia, and gender balance
Stonebridge Ventures targets Korea IPO
Stonebridge Ventures, a Korean venture capital firm with more than KRW700 billion ($595 million) in assets under management, has filed to list on KOSDAQ.
KKR announces CEO succession
Joe Bae, who was responsible for establishing KKR’s Asian operation, has been named co-CEO of the firm as co-founders Henry Kravis and George Roberts complete the handover to the next generation.
China in six trends
Key themes in China private equity fundraising, investment, and exits
PE-backed MicroTech Medical targets $254m Hong Kong IPO
MicroTech Medical, a China-based manufacturer of insulin pumps for diabetes sufferers that counts Lilly Asia Ventures (LAV) and Qiming Venture Partners among its investors, is looking to raise up to HK$1.98 billion ($254 million) in a Hong Kong IPO.
Australian Business Growth Fund seals debut deal
The Australia Business Growth Fund (ABGF) has made its first investment, committing A$15 million ($11 million) to local lithium-ion battery manufacturer 3ME Technology.