Articles by Tim Burroughs
AVCJ daily bulletin returns April 6
AVCJ's daily bulletin will not be published on April 5 due to a public holiday in Hong Kong for the Ching Ming Festival.
Unitas exits Chinese noodle shop chain
Unitas Capital has sold Gourmet Noodle House – a Chinese casual dining chain that operates under the Jiayo brand – to GreenTree Inns Hotel Management.
Impact investment: A new breed
Global GPs have the potential to draw fresh sources of capital to Asia's impact investment funds
Japan Industrial Partners set for $1.4b fundraise
Corporate carve-out specialist Japan Industrial Partners (JIP) has closed the offshore portion of its latest fund and is poised to raise JPY102.3 billion ($996 million) in total once commitments from onshore investors are finalized. There will also be...
AVCJ daily bulletin returns April 3
AVCJ's daily bulletin will take a short break for the Easter holiday. Publication will resume on April 3.
Japan benchmarking: Body of evidence
The Japan Private Equity Association is pushing its members towards a performance benchmarking system in the hope that it will help persuade more foreign LPs to back local managers
Partners Group launches impact investment strategy
Partners Group has launched a dedicated impact investment strategy designed to achieve attractive risk-adjusted financial returns alongside measurable, positive social and environmental impact.
China unicorn total surpasses 160
China had 164 unicorns worth a collective $628.4 billion at the end of last year, a government report stated, as the prospect of A-share listings by domestic internet companies was once again raised.
Yunfeng, Alibaba agree $1.4b iKang take-private
The protracted pursuit of Chinese healthcare services provider iKang Healthcare Group appears to have ended, with Yunfeng Capital and Alibaba Group agreeing to buy the business at a valuation of around $1.4 billion.
PAG sells GP stake to Blackstone fund
The Blackstone Group’s Strategic Capital Holdings Fund has acquired a minority interest in Asia-focused alternative investment firm PAG for an undisclosed sum.
Australia's Five V agrees marketing carve-out
Five V Capital, an Australian GP established by Adrian MacKenzie, formerly a managing partner at CVC Capital Partners, has agreed to buy the contact center business of market services company Salmat for A$53 million ($41 million).
Ex-Warburg Pincus China head targets $1b fund
David Li, the former head of China at Warburg Pincus, has established his own private equity firm – known as Centurium Capital – and is seeking to raise $1 billion for a debut China fund.
PE-backed Sunlands completes $149m US IPO
Private equity-backed Sunlands Online Education ended its first day of trading on the New York Stock Exchange marginally below its IPO price following a $149.5 million offering.
PE-backed Grab to buy Uber's Southeast Asia operation
Grab, a private equity-backed ride-hailing platform headquartered in Singapore, has agreed to acquire the Southeast Asia operations of global rival Uber. It follows a similar arrangement struck two years ago between Didi Chuxing and Uber in China.
Providence to exit Indonesia telecom tower business
Providence Equity Partners is set to exit its last investment in Asia outside of India after Profesional Telekomunikasi Indonesia (Protelindo) agreed to buy Indonesian telecom tower platform Komet Infra Nusantara (KIN) for IDR1.4 trillion ($101 million).
Naspers pares stake in China's Tencent
Naspers has sold a small portion of its stake in Tencent Holdings – the Chinese internet giant in which it acquired an approximately one-third stake for $32 million 16 years ago – for HK$76.9 billion ($9.8 billion).
VIDEO: The Carlyle Group's Daniel D'Aniello
Daniel D'Aniello, co-founder and chairman emeritus of The Carlyle Group, discusses the evolution of private equity
Chinese computer rental start-up gets $32m Series C
Source Code Capital has led a $32 million Series C round of funding for Edianzu, a Chinese start-up that rents out computers and other office equipment to corporate customers.
KKR creates China digital marketing platform
KKR has completed a platform investment in China’s digital marketing space, bringing together four local companies to provide a one-stop service covering everything from advertising to analytics.
SBI backs Japan autonomous driving start-up Ascent
SBI Investment has made the first investment from its artificial intelligence (AI) and blockchain technology fund, leading a JPY1.1 billion ($10.3 million) round for Japan’s Ascent Robotics.
Impact agenda: Attracting institutional capital
Global PE firms are launching impact funds tailored to appeal to institutional investors that have so far largely ignored the space. There will be growing pains, but the benefits should be wide-ranging
LPs want stability plus innovation from Chinese GPs - AVCJ Forum
Team turnover remains a key concern for LPs making commitments to Chinese private equity firms, but even the most stable of GPs must demonstrate an ability to evolve in response to a fast-changing environment, investors caution.
Asia GPs must spend more time, effort extracting value - survey
Asian PE investors must accustom themselves to longer holding periods and more aggressive value creation initiatives if they are to achieve their target returns in a pricey market, according to Bain & Company.
China leads the world in internet technology - AVCJ Forum
Mobile payment represents a “big inflection point between China and the rest of the world,” underlining how the country has become a leader in technology, according to Victor Koo, founder of video streaming platform Youku.