Articles by Tim Burroughs
StepStone wins GPIF infrastructure mandate
Japan’s Government Pension Investment Fund (GPIF) – the world’s largest pool of retirement savings – has awarded a global infrastructure fund-of-funds mandate to StepStone Group.
India's PE-backed Capital First to merge with IDFC Bank
Capital First, an India-listed non-banking financial company (NBFC) backed by Warburg Pincus and GIC Private, has agreed to merge with IDFC Bank.
Buyouts: Courage of conviction
Buyout firms are responding to higher valuations by doing more to ensure they can bring about transformation in portfolio companies. They are also being more careful in terms of sector selection and leverage
Carlyle promotes Australia buyout head to partner
The Carlyle Group has promoted David Bluff, head of its buyout team in Australia and New Zealand, to partner. He was previously a managing director with the firm.
MSPEA backs Indian medical devices, health foods businesses
Morgan Stanley Private Equity Asia (MSPEA) has completed two investments in India, committing INR1.6 billion ($25.1 million) to medical devices business Sahajanand Medical Technologies (SMT) and INR1.52 billion to health foods producer Southern Health...
CITIC Capital completes Axilone acquisition
CITIC Capital has completed the acquisition of Axilone, a Europe-headquartered packaging supplier to the cosmetics industry. The deal facilitates an exit for Oaktree Capital Management.
Hyundai joins round for Southeast Asia's Grab
South Korean automaker Hyundai has joined the latest funding round for Southeast Asia-based ride-hailing platform Grab. The move comes five months after Toyota also backed the company.
Pantheon promotes Alex Wilmerding to partner
Pantheon has promoted Alex Wilmerding, who is responsible for client relationships across Asia Pacific and also sits on the regional investment team, to partner.
Grey Mountain buys pallet business from Australia's Brambles
Australian container supplier Brambles has agreed to sell its North American recycled pallet business to Grey Mountain Partners, a US-based mid-market GP, for an enterprise value of $115 million.
4Q analysis: Riding the wave
Chinese companies return in strength to US bourses as investors leverage public market highs; Australia a bright spot as Asia fundraising slows; 2017 sets new record for PE investment on back of big buyouts, tech deals
Technology: The unavoidable angle
Technology is directly or indirectly redefining business models across Asia. Private equity investors must embrace change or risk seeing returns damaged as portfolio companies are disrupted
KV Asia backs MBO of Malaysian education group
KV Asia Capital has supported a management buyout of APIIT Education Group, the holding company for several primary, secondary and tertiary education assets in Malaysia, from Ekuinas for an enterprise valuation of MYR725 million ($180 million).
Google backs Chinese mobile game streaming platform
Google has participated in a Series D round of funding for Chushou, a Chinese mobile game live streaming platform. The investment takes the company’s total funding to more than $120 million.
Brookfield to buy Westinghouse from Toshiba
Brookfield Asset Management has agreed to buy the Westinghouse nuclear power unit from Japan’s Toshiba Corporation in a deal worth approximately $4.6 billion.
Oaktree-backed Australian surf brands to merge
Australian surfwear brand Billabong International has agreed to an acquisition by industry peer Boardriders, which owns the Quiksilver brand. Both companies are backed by Oaktree Capital Management.
VIG buys Korean sports shoe materials supplier
VIG Partners has acquired Youyoung, a Korea-based supplier of materials used in running shoes, for an enterprise valuation of KRW220 billion ($207 million).
Apax backs Chinese cosmetic surgery marketplace
A technology-focused fund managed by Apax Partners has led a $60 million Series D round of funding for SoYoung, a Chinese online marketplace specializing in cosmetic surgery.
Battery Ventures backs Australia SaaS player PageUp
US-based private equity firm Battery Ventures has invested in PageUp, an Australian developer of cloud-based enterprise talent management software.
China's Ant Financial abandons MoneyGram acquisition
Alibaba Group’s Ant Financial has abandoned its $1.2 billion acquisition of private equity-backed MoneyGram after failing to receive clearance from the Committee on Foreign Investment in the US (CFIUS).
AVCJ Awards 2017: AVCJ Special Achievement: Victor Fung
Victor Fung played a key role in the development of venture capital and private equity in Asia, and of AVCJ itself. He looks back at how the various pieces fell into place
Affinity closes fifth Asia fund at $6b
Affinity Equity Partners has completed a first and final close on its fifth pan-Asian fund at the hard cap of $6 billion after approximately five months in the market.
AVCJ Awards 2017: PE Professional of the Year: Yichen Zhang
Yichen Zhang, CEO of CITIC Capital, discusses fundraising, working on outbound deals, the appeal of China divestments by foreign companies, and leading a multi-strategy firm
OrbiMed re-ups in India's Vivimed Labs
OrbiMed has invested a further $7.5 million in the active pharmaceutical ingredient (API) unit of India-listed drug maker Vivimed Labs.
MBK promotes COO to partner
MBK Partners has promoted Bryan Byungsuk Min, currently the firm’s COO, to partner.