Articles by Tim Burroughs
Deutsche's Jason Sambanju launches secondaries firm
Jason Sambanju, the former head of Asian private equity secondaries at Deutsche Bank, has launched his own investment firm – Foundation Private Equity – which will pursue secondary opportunities in the region.
CMC closes China media fund at $600m hard cap
CMC Capital Partners, a PE firm set up by Ruigang Li, formerly president of Shanghai Media Group (SMG), has closed its second US dollar-denominated fund at the hard cap of $600 million. The vehicle is already one-third invested.
KKR to buy majority stake in Australia's Dixon Hospitality
KKR has agreed to acquire a majority interest in Dixon Hospitality, which operates a portfolio of more than 40 food and beverage outlets across major cities in Australia. The capital will come from the GP's third pan-Asian fund, which closed earlier this...
Japanese LPs: Building consensus
Japanese institutional investors are taking their time with decisions about launching alternative investment programs. Strong support from internal stakeholders is a key consideration
OrbiMed leads $30m round for China's Zai Lab
Zai Lab, a pharmaceutical company that licenses pre-clinical findings in the West for development into drugs in China, has received $30 million in Series C funding led by existing investor OrbiMed.
Rocket, Kinnevik exit as Alibaba pumps $1b into Lazada
Alibaba Group will invest about $1 billion to take its stake in Southeast Asia-based e-commerce platform Lazada from 51% to 83%, enabling investors including Rocket Internet and AB Kinnevik to make a full exit.
VC secondaries: Trading unicorns
Secondary investors are seeing more deal flow in the venture capital space as GPs seek to generate returns on assets that are taking longer than expected to go IPO. Valuations remain a sticking point
Warburg Pincus leads $64m round for Singapore's Trax
Warburg Pincus has led a $64 million investment in Trax, a Singapore-based company that has developed visual technology through which retailers can link sales to in-store and on-shelf positioning.
PE investors back $402m Sinovac take-private
A consortium of private equity investors has agreed to privatize US-listed Chinese biopharmaceutical player Sinovac Biotech in a deal worth $401.8 million, bringing a contentious bidding process to an end.
Western Digital, KKR resubmit bid for Toshiba memory unit
Western Digital and KKR have resubmitted an offer for Toshiba’s Nand flash memory business, despite the Japanese conglomerate last week naming a consortium featuring Bain Capital as the preferred bidder in the JPY2 trillion ($18 billion) deal.
PE-backed Chinese logistics player files for US IPO
Best Inc, a Chinese logistics operator backed by Alibaba Group and a string of private equity investors, has filed for a US IPO. No details have been given as to the size and pricing of the offering.
NewQuest opens India office
Dedicated Asia secondaries investor NewQuest Capital Partners has opened an office in Mumbai, its third in the region. The firm has invested $200 million in India over the last two years and expects its investment pace to increase in the near term.
AGIC-led consortium buys US pharma player
AGIC Capital, a private equity firm established in 2015 to focus on China-Europe cross-border investments, has secured its first deal in the US with an agreement to acquire pharmaceutical manufacturer Ritedose Corporation.
Shaw Kwei completes exit from China's YongLe with 4.8x return
Shaw Kwei & Partners has completed its exit from Chinese PVC adhesive tape manufacturer YongLe Tape – securing a gross multiple of 4.8x – as Avery Dennison purchased the asset for a total consideration of $300 million.
Japanese LPs' PE programs slowed by internal resistance - AVCJ Forum
Japanese institutional investors are increasingly interested in private equity, but investment programs are often slow to get off the ground due to an innate aversion to risk among internal stakeholders.
Secondary investors pay $600m for LP stakes in IDG VC funds
IDG Capital has completed a secondary deal worth nearly $600 million, selling down LP positions in at least seven funds managed by affiliates in India and Vietnam as well as by the GP itself in China. These holdings were acquired as part of the purchase...
Private equity and data centers: Get connected
With demand for outsourced data center services poised to take off in Asia, private equity investors are looking for ways to participate in the growth story
Creditors take control of PE-owned Gerard Lighting
A creditor consortium led by Investec and Bain Capital Credit (BCC) has assumed full control of Gerard Lighting, an Australian light fittings distributor owned by CHAMP Private Equity.
Japan buyout investors must consider post-deal positioning - AVCJ Forum
Private equity deal flow is increasing in Japan’s middle market, but buyers should be mindful that their responsibilities to sellers stretch well into the post-investment period, industry participants told the AVCJ Japan Forum.
Bolt-on acquisitions: Buying growth
Bolt-on acquisitions enable private equity firms to bring down the cost of investments through multiple arbitrage and leveraging synergies. But in a climate of heady valuations, are GPs thinking too big?
MBK completes exit from Japan's Komeda with 5x return - update
MBK Partners has sold the remainder of its stake in Japan-based coffee shop chain Komeda Holdings JPY24.3 billion ($217 million), securing a 5x return on the overall investment.
Korean PE consortium named preferred bidder for Arrium
A consortium headed by two Korean private equity firms and supported by domestic steelmaker Posco has been selected as the preferred bidder for distressed Australian mining and minerals giant Arrium.
Bain continues to trim holding in Japan's Skylark
Bain Capital has made its second partial exit in three months from Japanese restaurant operator Skylark, receiving JPY41.6 billion ($373.6 million) and reducing its stake to approximately 15%.
Tata targets $600m for second opportunities fund
Tata Capital is looking to raise $600 million for the second Tata Opportunities Fund, a private equity vehicle that invests in Tata group entities as well as other independent Indian businesses.