Articles by Tim Burroughs
CVC secures partial exit from Indonesian sports retailer
CVC Capital Partners has made a partial exit from Indonesian sports retailer MAP Aktif Adiperskasa, generating proceeds of approximately IDR4.1 trillion ($288 million) through a share sell-down.
Bain & Co appoints new SE Asia, Australia heads
Bain & Company has named new managing partners for its businesses in Southeast Asia and Australia. The appointments come a month after the consulting firm announced a new Asia Pacific head.
Bain falls short in tender offer for Japan's Kosaido
The proposed JPY17.4 billion ($157 million) acquisition of Japanese printing and IT services provider Kosaido by Bain Capital has reached an impasse after the private equity firm’s tender offer failed to win sufficient shareholder support.
1Q analysis: China malaise
First quarter analysis: China uncertainty hits PE investment; public market instability holds back IPOs; distress strategies underpin India fundraising as commitments to China-focused managers plummet
Fund focus: Back on the map
The Longreach Group has leveraged rising appetite for exposure to Japan’s middle market with a $650 million close for its latest buyout fund. Increased global participation contributed to the result
China tech valuations: Unnatural acts
China’s tech sector is gripped by uncertainty, but some GPs will do anything to avoid marking down their portfolios. LPs are entitled to ask whether unicorns are still worthy of a billion-dollar valuation
Chinese cosmetic surgery marketplace files for US IPO
So-Young International, a Chinese online marketplace focusing on cosmetic surgery, has filed to list in the US. PE backers include Orchid Asia, Matrix Partners China, and the Russia-China Investment Fund (RCIF).
Baring Asia gets $300m fund commitment via HSBC private bank
HSBC Private Banking has raised approximately $300 million from its clients for Baring Private Equity Asia’s latest pan-regional fund.
China's acquisitive conglomerates: Tables turned
The troubles at China's HNA Group, Wanda Group and Anbang Insurance have removed a once popular exit channel for private equity, but now GPs may see these companies as a source of deal flow
VC-backed Ruhan drops on debut after $125m US IPO
Ruhan, a VC-backed Chinese celebrity incubator that creates online personalities who drive e-commerce activity, slipped 37% below its IPO price on the first day of trading following a $125 million NASDAQ offering.
Korean online grocery player secures $88m Series D
Market Kurly, a four-year-old Korean start-up that provides online grocery delivery services, has raised KRW100 billion ($88 million) in Series D funding.
Japan's Chikyoren awards overseas PE mandate
Japan’s Pension Fund Association for Local Government Officials (Chikyoren) has awarded an overseas private equity mandate to Sumitomo Mitsui Asset Management.
Advantage to exit Japanese outdoor sports equipment retailer
Advantage Partners has agreed to sell Ishii Sports, a Tokyo-based outdoor sports equipment retailer it acquired three years ago, to local consumer electronics store operator Yodobashi Holdings.
AVCJ daily bulletin returns April 8
AVCJ's daily bulletin will not be published on April 5 due to a public holiday in Hong Kong for the Ching Ming Festival.
DSG hits $30m first close on third consumer fund
DSG Partners Asia, which targets early-stage consumer opportunities in India and Southeast Asia, has reached a first close of $30 million on its third fund.
Deal focus: China’s data-enabled Workday
By applying artificial intelligence to human resources management, China's IfChange claims to make recruitment and retention more efficient. The company is now pushing to expand its customer base and product coverage
Longreach agrees Hong Kong medical devices buyout
The Longreach Group has announced the third investment from its recently closed third mid-market buyout fund, with an agreement to acquire contract development and manufacturing organization (CDMO) Quasar Engineering.
PAG appoints KKR dealmaker as India PE head
PAG has hired Nikhil Srivastava from KKR to lead its India private equity operations as the firm looks to expand its coverage of the country.
EQT backs Southeast Asia healthcare benefits administrator
EQT has made an investment of undisclosed size in MHC Asia, a Southeast Asia-based healthcare benefits administrator that helps corporate clients customize health and wellness offerings.
RRJ takes full ownership of Gategroup from HNA
RRJ Capital has agreed to take full ownership of Gategroup, an airline catering provider owned by troubled Chinese conglomerate HNA Group.
China fundraising: What LPs want
Investors share the most important qualities that can help Chinese GPs gain traction in a challenging fundraising environment
Fund focus: Hostplus’ diversification drive
Australia's Hostplus partners with Natixis-backed Flexstone Partners for an investment program focused on backing middle-market US managers
China's Bitmain pulls plug on Hong Kong IPO
Bitmain, a private equity-backed Chinese business that manufactures chips for Bitcoin mining, has allowed its application for a Hong Kong IPO to lapse.
Chinese HR SaaS platform secures $80m Series C
Lightspeed Venture Partners and Sunshine Life Insurance have led a $80 million Series C round of funding for IfChange, a Chinese software-as-a-service (SaaS) platform that specializes in human resources management.