Articles by Tim Burroughs
Japanese LPs emphasize portfolio diversification - AVCJ Forum
Diversification – by vintage, geography, and strategy – is the priority for Japan’s largest institutional investors as they develop their private equity programs, but they accept that portfolio-building can be challenging.
LP interview: Cbus' Kristian Fok
Recognizing that strong cash inflows were working against a solely outsourced manager strategy in the alternatives space, Australia’s Cbus picked its key asset classes and devised a direct solution
Centurium reaches $1b first close on China fund
Centurium Capital, the private equity firm established by ex-Warburg Pincus China head David Li, has reached a first close on its debut fund of nearly $1 billion.
CITIC Capital makes $3.6b bid for China Biologic Products
CITIC Capital has submitted a take-private bid for China Biologic Products that values the US-listed biopharmaceutical developer at approximately $3.65 billion.
Japanese LPs value site visits with infrastructure managers
Japanese corporate pension funds are looking to increase their allocations to infrastructure, but they value the opportunity to visit managers before committing capital.
Activist investors in Japan: Governance gambit
Japan's governance reforms have given activist investors more leverage over underperforming companies. PE firms are well positioned to offer solutions to these targets in the form of carve-outs, privatizations, or partnerships
Shunwei, DCM lead $65m round for China's Yaoshibang
Chinese B2B pharmaceutical trading and education platform Yaoshibang has received RMB420 million ($65 million) in Series C funding across two tranches.
Abraaj files for restructuring
The Abraaj Group – which has been under pressure since governance concerns emerged in February – has appointed provisional liquidators to work on a restructuring of the firm after a second creditor filed a petition seeking to recover unpaid debts.
Australia-listed Sirtex accepts CDH's $1.4b buyout offer
Australian medical device manufacturer Sirtex Medical has accepted a A$1.9 billion ($1.4 billion) buyout offer from China’s CDH Investments, pulling the plug on an earlier agreement with US-listed Varian Medical Systems.
TR gets 3.4x return on Flipkart, opens India office
TR Capital secured a 3.4x net return on its investment in Indian e-commerce giant Flipkart, having sold its stake in conjunction with Walmart’s acquisition of the business. The secondaries specialist announced the exit to coincide with the opening of...
AVCJ daily bulletin returns June 19
AVCJ's daily bulletin will not be published on Monday June 18 due to the public holiday in Hong Kong
China Growth Capital leads round for Cheduoduo
China Growth Capital has led a $17.7 million Series A round of funding for Cheduoduo, a newly launched Chinese used car trading platform, with participation from Source Code Capital.
Chinese AI player Yitu raises $200m
Yitu Technology, a Chinese artificial intelligence (AI) start-up that is developing solutions for machine vision, listening and understanding, has raised $200 million in Series C-plus funding.
Japan outbound M&A: Looking for growth
Unable to find growth at home, Japanese companies are looking for it overseas. Private equity investors can be helpful in everything from execution to integration, provided they can prove their credentials
Japanese LPs: Stirring giants
Japan’s LP landscape is in a state of flux as several large-scale investors ramp up their alternatives programs. The industry must prepare itself, in terms of personnel, structures, and expectations
Toyota invests $1b in SE Asia's Grab at $10b valuation
Japan’s Toyota Motor Corporation will contribute $1 billion as the lead investor in the latest round of funding for Southeast Asia-focused ride-hailing business Grab. The commitment – the largest-ever made by an automaker in the ride-hailing industry...
Japan's Mercari set for $1.2b IPO
Japanese consumer-to-consumer marketplace Mercari – which has several VC backers – is set to raise JPY130.5 billion ($1.18 billion) in its domestic IPO after pricing the offering at the top end of the indicative range.
VIDEO: Baidu Capital's Jenny Wu
Jenny Wu, a managing partner at Baidu Capital, discusses growth stage investment in artificial intelligence
China's Xiaomi set to lead the way on CDRs
Xiaomi, a private equity-backed Chinese smart phone maker that filed for a Hong Kong IPO last month, has become the first company to apply to issue Chinese Depository Receipts (CDRs).
Hua Medicine files for HK IPO under biotech fastrack
Hua Medicine, a Chinese drug developer player that simultaneously closed its Series D and E funding rounds in March, has become the second company to file for a Hong Kong IPO under rules that allow zero revenue biotech businesses to go public.
Japanese LPs: The long walk
PE firms have been trying to open up the Japanese LP market for years. Now that local institutions are showing a greater appetite for alternatives, it is unclear who will manage their investment programs
China's Ant Financial closes $14b Series C round
Ant Financial, Alibaba Group’s financial services affiliate, has raised $14 billion in Series C funding from investors including GIC Private, Warburg Pincus, The Carlyle Group, Silver Lake, and Canada Pension Plan Investment Board (CPPIB).
VIG nets 2.1x return on Korea price comparison site deal
VIG Partners has agreed to sell its controlling stake in Summerce Platform, operator of the Korean online price comparison website Enuri.com, to local e-commerce player Koreacenter for KRW105 billion ($97.8 million).
China's Chezhibao, Tiantian Paiche secure funding
Two Chinese online used car trading platforms – Chezhibao and Tiantian Paiche (TTP) – have received a combined $225 million in funding, continuing the flood of private capital into the space.