Articles by Tim Burroughs
Lexington leads $1b stapled secondary for TPG Asia
Lexington Partners has backed a GP-led tender offer for TPG Capital’s fifth and sixth Asia funds, taking out existing positions held by LPs and investing new capital into the firm’s seventh pan-regional vehicle. The transaction represents a total...
Baring Asia pursues privatization of Japan's Pioneer
Baring Private Equity Asia has agreed to privatize Pioneer Corporation through a two-stage revitalization plan that will see it invest JPY102 billion ($905 million) in the struggling Japanese conglomerate.
Fosun-owned Club Med operator raises $427m in HK IPO
Fosun Tourism Group (FTG), which operates holiday resorts under the Club Méditerranée (Club Med) brand, has raised HK$3.34 billion ($427 million) through its Hong Kong IPO.
FountainVest-backed consortium makes tender offer for Amer
A consortium including FountainVest Partners and Chinese sportswear retailer Anta Sports has won board support for a EUR4.6 ($5.23 billion) tender offer for Finland-listed Amer Sports, which owns brands such as Salomon, Atomic, and Louisville Slugger.
Australia's PEP hits $433m first close on secure assets fund
Pacific Equity Partners (PEP) has reached a first close of A$600 million ($433 million) on its secure assets fund, which invests in companies in Australia and New Zealand that generate annuity income but also offer opportunities for traditional private...
Q&A: Impossible Foods' Nick Halla
Nick Halla became the first employee at Impossible Foods in 2011. Now leading the rollout of the PE-backed company’s plant-based meat substitute products, he explains the strategy for Asia
Lighthouse invests $35m in India’s Aqualite
Lighthouse Funds has invested more than INR2.5 billion ($35 million) for a minority stake in Aqualite Industries, an Indian footwear manufacturer.
Ardian opens Korea office
Ardian has opened an office in South Korea – its fourth in Asia – in order to service the needs of a growing investor base in the region.
Värde collects $400m for debut Asia credit fund
Värde Partners has closed its debut Asia-focused credit fund with approximately $400 million in commitments. The vehicle launched about six months ago with a target of $250 million.
Australia’s Future Fund loses private equity team - update
Three of the four most senior members of the private equity team at Australia’s Future Fund – including PE head Steve Byrom – have departed to set up their own consulting firm that will advise global institutional investors looking to build exposure...
Evolving India: Sophistication on demand
India's private equity market has reached a new level of maturity, and GPs must show they can keep pace with increasingly sophisticated entrepreneurs and LPs' expectations for returns
Australia's Mercury closes Fund III at $439m hard cap
Australian mid-market private equity firm Mercury Capital has closed its third fund at the hard cap of A$600 million ($439 million).
VIG buys global Korean fried chicken franchise
VIG Partners has agreed to buy a 55% stake in Bonchon International, a Korean fried chicken restaurant brand with 325 outlets across eight countries. The size of the transaction was not disclosed.
Korea's ACE Equity seals $356m tech manufacturing buyout
ACE Equity Partners, a Korean private equity firm that operates on a project fund basis, has acquired Daeho Technology Korea (DTK), a manufacturer of glass used in smart phones, for KRW400 billion ($356 million).
AVCJ journalists win awards
Asian Venture Capital Journal was honored at the 2018 State Street Institutional Press Awards, Asia Pacific, winning three categories outright and receiving highly commended citations in two more.
Q&A: Tata Opportunities Fund's Paddy Sinha
Paddy Sinha, a managing partner with Tata Opportunities Fund, discusses macroeconomic and policy developments in India, the availability of buyouts, and the outlook for exits
VIG-owned Hi-Parking buys Wilson Parking Korea
HiParking, a Korean parking managing business owned by VIG Partners, has agreed to buy Wilson Parking Korea as part of an industry consolidation play.
Bain-Piramal fund invests $156m in Indian chemicals company
India Resurgence Fund (India RF), a vehicle established by Bain Capital Credit and Piramal Enterprises to invest in distressed assets, has committed $156 million to Archean Group’s marine chemicals business.
PE-backed BabyTree raises $217m in Hong Kong IPO
BabyTree, a Chinese parent-focused social networking platform that engaged in a corporate restructuring intended to facilitate an onshore listing but then 12 months later decided to go public in Hong Kong, has raised HK$1.7 billion ($217.3 million) in...
Hong Kong's EmergeVest consolidates UK logistics assets
Hong Kong-based EmergeVest – a PE firm established by former executives from HSBC’s Asia principal investments division – has consolidated ownership of six UK logistics assets into a single platform with GBP850 million ($1 billion) in annual revenue.
PE-backed ESR establishes India logistics JV with Allianz
Private equity-backed Asian logistics and fund management platform ESR has established a joint venture with Allianz Group’s real estate division that will invest around $1 billion – comprising equity and debt – in India.
Deal sourcing: Priority access
While proprietary deals are not always possible in Asian private equity, there are many ways for GPs to gain an edge even when competing with multiple bidders for the same asset
China car group buying platform raises $20m in US IPO
Tuanche, a VC-backed Chinese online auto services platform that specializes in group buying, raised $20.3 million in its US IPO after pricing its shares towards the low end of the indicative range.
China's Geek+ closes Series B round at $150m
Geek+, a Chinese manufacturer of robots for use in logistics and warehousing, has closed its Series B round with $150 million in commitments. It is claimed to be the largest financing globally in the logistics robotics space and it takes Geek+’s valuation...