Articles by Tim Burroughs
PE-backed Hansoh Pharma completes $1b Hong Kong IPO
Hansoh Pharmaceutical Group, a Chinese drug developer that counts Hillhouse Capital and Boyu Capital among its investors, has raised HK$7.86 billion ($1 billion) through a Hong Kong IPO.
Vietnam: Entrepreneurial instincts
Vietnam’s private sector is rich in opportunity and many people have ambitions of building the next Mobile World. But engagement between entrepreneurs and private equity doesn’t always run smooth
Advantage buys Japanese niche education businesses
Advantage Partners has acquired two Japan-based education assets – vocational training provider Abitus and Tokyo Central Japanese Language School (TCJ).
PE-backed ESR postpones Hong Kong IPO
Pan-Asian logistics and fund management platform ESR has postponed its Hong Kong IPO, which was expected to raise up to HK$975.6 billion ($1.24 billion) and facilitate partial exits for several private equity investors.
Q&A: TriLinc Global's Paul Sanford
Paul Sanford, CIO of credit-focused impact investment firm TriLinc Global, explains why Southeast Asia has proved a challenging market and how he is preparing for a spike in institutional investor interest
KKR to sell Korean battery components maker for $1b
KKR is set for the first exit from its third Asian fund, having agreed to sell Korean copper foils manufacturer KCF Technologies to an affiliate of SK Group for KRW1.2 trillion ($1 billion).
Boyu leads round for Chinese health insurance platform
Waterdrop, a Chinese online health insurance platform that runs mutual aid programs and provides brokerage services, has raised RMB1 billion ($145 million) in Series C funding led by Boyu Capital.
PE-backed Fang.com spins out China property analytics business
Private equity-backed online real estate portal Fang.com has spun-out its property analytics and benchmarking system in what its CEO Yu Huang described as the first direct public offering (DPO) by a Chinese company in the US.
Sovereign wealth: Getting creative on co-investment
Sovereign wealth funds are dialing up their direct exposure to technology and healthcare start-ups, but this trend is accompanied by a varied collection of co-investment models
Fund focus: Nexus Point secures $475m for China buyouts
Nexus Point Capital has raised $475 million for middle-market buyouts in Greater China. The team, led by ex-MBK Partners executive K.C. Kung, favors complex solutions over plain vanilla deals
Greater Bay Area: Promise keepers
The Greater Bay Area initiative plans to speed up regional integration in the Pearl River Delta, with Hong Kong set to be a major beneficiary. Questions remain about the government’s ability to follow through
Nan Fung, Pivotal China lead $80m round for Oncologie
Oncologie, a cancer drug developer with bases in Shanghai and Boston, has secured $80 million in Series B funding led by Nan Fung Life Sciences and Pivotal Bioventure Partners China.
Sequoia, Coatue lead $70m round for China's Yunquna
Sequoia Capital China and Coatue Management have a led a $70 million Series B round of funding for Yunquna, an online logistics services platform for the shipping industry.
Whale watching: Mid-cap GPs engage large-cap LPs
Recent appointments by two Asian GPs - Everstone Group and Legend Capital - offer insights into how smaller managers are trying to forge meaningful relationships with large institutional investors
Gaorong-backed GSX Techedu loses ground after $208m US IPO
GSX Techedu, operator of Chinese online education platform Baijiahulian, raised $207.9 million in its US IPO, but a flat first day of trading was followed by a 4.6% decline on day two.
CMC backs Chinese play center operator
CMC Capital Partners has led a Series B round of more than RMB100 million ($15 million) for Neobio, a Chinese operator of children’s play centers.
Russia's sovereign fund signs tech deals with CIC, Alibaba
The Russian Direct Investment Fund (RDIF) has entered into two technology-related ventures, partnering with China Investment Corporation (CIC) on an innovation fund and teaming up with Alibaba Group among others to create a social commerce platform.
Hillhouse buys whisky producer Loch Lomond Group
Hillhouse Capital has acquired Scotland-based whisky producer Loch Lomond Group with a view to helping the company expand its presence in Asia.
Advent raises $17.5b for ninth global fund
Advent International has closed its latest global fund at the hard cap of $17.5 billion, completing its largest-ever fundraising exercise in the space of six months.
Joy Capital sets $350m target for third China VC fund
Joy Capital is seeking $350 million for its third China-focused venture capital fund, which would take the four-year-old firm’s assets under management past the $1 billion mark.
Sinovation closes $362m RMB fund, establishes GBA base
Sinovation Ventures has raised RMB2.5 billion ($362 million) for a fund that will focus on artificial intelligence (AI), big data and related areas. The final close was announced at the unveiling of the firm’s Greater Bay Area (GBA) headquarters in...
Australia's PEP surpasses $1.4b in Fund VI first close
Pacific Equity Partners (PEP) has reached a first close of just over A$2 billion ($1.4 billion) on its sixth Australia and New Zealand-focused buyout fund, with the hard cap set at A$2.5 billion.
In scope: Asian fund managers and Cayman
Asian private equity firms may start moving their fund management entities away from the Cayman Islands due to new economic substance requirements. Is Hong Kong ready to accept them?
LPs worry about alignment issues in GP-led secondaries - survey
The arrival of GP-led secondary transactions in the private equity mainstream has been accompanied by mounting concerns among LPs that their interests might not be aligned with those of the managers driving these deals.