Articles by Tim Burroughs
KKR closes third Asian fund at $9.3b
KKR has closed its third pan-regional fund at $9.3 billion, breaking its own record for the largest pool of private equity capital ever raised for deployment in Asia. The fundraising process took less than seven months and the vehicle is said to have...
PE-owned Australian childcare providers to merge
Camp Australia, an outside school hours care provider acquired by Bain Capital Private Equity in February, has agreed to merge with Junior Adventures Group (JAG), a similar business controlled by Advent Partners.
Chinese GPs set up semiconductor JV with Qualcomm
The two Chinese private equity firms that bought NXP Semiconductors’ standard products business in February have teamed up with Qualcomm – which subsequently bid for NXP outright – to manufacture chipsets for mass-market smart phones sold in China.
Deal focus: Quadrant cashes in on Icon’s growth potential
Quadrant Private Equity agrees a $746 million exit from Icon Group, with new owners QIC, Goldman Sachs and Pagoda Investment keen to continue the cancer specialist's expansion in Asia
Deal focus: IMM seeks to ride the Korean wave
IMM Investment has become the latest private equity firm to buy into the Korean cosmetics story, paying $330 million for a majority stake in Able C&C through a tender offer and the acquisition of shares from the founder
LP interview: Ekuinas
Ekuinas represents a mixed bag, serving as GP and LP and pursuing social and economic objectives. CEO Syed Yasir Arafat Syed Abd Kadir explains how the group is making a difference in Malaysian private equity
Taiwan regulator nixes Carlyle's EBC exit
The Carlyle Group appears to have hit a wall in its latest attempt to exit Taiwan TV station Eastern Broadcasting (EBC) as the National Communication Commission (NBC) blocked a sale to Taiwan Optical Platform, a local telecom services provider.
Temasek, Telstra back $149m Australian innovation push
IP Group, which specializes in commercializing intellectual property, has raised a new round of funding from investors including Temasek Holdings and Telstra Super, and pledged to invest A$200 million ($149 million) in Australia and New Zealand.
Placement agent First Avenue opens Korea office
Private funds and corporate placement agent First Avenue has opened an office in Seoul, adding to its existing Asia Pacific bases in Hong Kong and Sydney.
Naspers leads $80m round India's VC-backed Swiggy
South African internet conglomerate Naspers Group has led a Series E round of funding worth $80 million for Swiggy, an India-based online food-ordering and delivery platform.
India's IL&FS names new CEO for PE unit
IL&FS Investment Managers (IIML), the private equity arm of India's Infrastructure Leasing & Financial Services (IL&FS, has appointed Krishna Kumar, previously a senior managing partner, as CEO.
Helion co-founder launches $100m India fintech fund
Rahul Chandra, co-founder and managing director at India-based Helion Venture Partners, is looking to raise $100 million for an early-stage fund. He will retain his existing portfolio management responsibilities at Helion.
Bain to buy $200m Chinese NPL portfolio
Bain Capital Credit (BCC) has agreed to buy a portfolio of Chinese non-performing loans (NPLs) worth approximately $200 million, reflecting the growing interest from foreign investors in the country’s distressed debt space.
AVCJ daily bulletin returns May 31
AVCJ's daily bulletin will not be published on Tuesday May 30 due to the public holiday in Hong Kong.
Bain to make full exit from Domino's Pizza Japan
Bain Capital Private Equity is set to exit Domino’s Pizza Japan, having exercised a put option requiring Domino’s Pizza Enterprises (DPE) - which acquired a majority interest in the business in 2013 – to buy its 25% stake.
Global PE firms bullish on Vietnam - AVCJ Forum
Global and regional private equity firms are increasingly turning their attentions to Vietnam, reassured by the country’s relative economic stability and impressed by the rising number of investable companies.
Big beast: The SoftBank Vision Fund
SoftBank's global technology fund is significant enough to redraw the private equity investment opportunity in certain industries, if not to redraw the industries themselves
Blue Sky exits Australia's HPS via $116m trade sale
Blue Sky Alternative Investors will exit its stake in HPS, Australia’s largest provider of outsourced pharmacy services to hospitals, as healthcare business EBOS agreed to buy the asset for A$154 million ($116 million).
Co-working spaces in Asia: Spaced out
Co-working spaces are proliferating in Asia as companies – from multinationals to start-ups – opt for more flexible real estate arrangements. The transition is real, but are the valuations justified?
Sino-Australian consortium to buy Icon Group from Quadrant
QIC, Goldman Sachs and Pagoda Investment – a China-focused private equity firm set up by a former QIC executive – have agreed to buy Icon Group, an Australian oncology services provider, from Quadrant Private Equity.
Partners Group buys majority stake in SPi from CVC
Partners Group has acquired a majority stake in Philippines-based business process outsourcing (BPO) provider SPi Global from CVC Capital Partners and Philippine Long Distance Telephone Company (PLDT) in a deal that values the business at $330 million.
CDH makes another partial exit from WH Group
CDH Investments has completed its third partial exit from WH Group in nine months, generating proceeds of HK$5.78 billion ($743 million) and reducing its holding in the Chinese pork producer to 3.24%.
Hynix joins bid for Toshiba's memory chip unit as PE firms circle
South Korean memory chip manufacturer SK Hynix has joined a group that is bidding for Toshiba’s Nand flash memory business amid reports that Bain Capital has submitted an offer of $10 billion for the asset.
SoftBank achieves $93b first close on global tech fund
SoftBank Group Corp. has reached a first close of more than $93 billion on its global technology investment fund. A final close of $100 billion is expected within six months.