Articles by Tim Burroughs
D Capital agrees Japan digital marketing carve-out
Japanese mid-market private equity firm D Capital has agreed to buy the local operations of Catalina, a US-headquartered digital marketing company undergoing its second restructuring in four years.
China GPs re-up in ArriVent Biopharma's $155m Series B
Assorted Chinese investors have participated in a USD 155m Series B round for US-headquartered ArriVent Biopharma, which targets drug candidates emanating from emerging biotech hubs, including China.
Fund finance: Filling Asia’s SVB void
Silicon Valley Bank’s collapse has prompted Asia-based GPs to review their relationships with lenders, for fund finance and general banking. Smaller managers may find the process challenging
Asia GPs must get smarter on target selection, costs - Bain & Co
Careful target selection – based on geography and sector – and increased emphasis on cost controls during ownership will be critical factors for Asian private equity investors as the industry braces for a downturn, according to Bain & Company.
TPG completes exit from India's Campus Activewear
TPG Capital – acting through its growth equity strategy – has completed its exit from Campus Activewear, an Indian athleisure footwear brand it took public last April.
Asian institutional players target higher private markets allocations
Four in five institutional investors in Asia Pacific plan to increase their allocations to private markets in the next five years despite some facing near-term denominator effect challenges because of declines in public markets, according to a survey...
Affinity recruits Australia head, re-hires executive from Quadrant
Affinity Equity Partners has strengthened its coverage of Australia and New Zealand with the recruitment of Nick Speer from The Riverside Company as a partner and local team leader and the rehiring of Mark Chudek from Quadrant Private Equity.
JIP wins board approval for $15b Toshiba buyout
The board of Toshiba Corporation has approved a tender offer from Japan Industrial Partners (JIP) that values the company at approximately JPY 2trn (USD 15.3bn).
Portfolio Advisors raises $1bn for global fund-of-funds
Portfolio Advisors has closed its latest global multi-strategy fund-of-funds – which allows LPs to customise allocations across several key areas – with commitments of just over USD 1bn.
Polaris picks up Japan advertising, recruitment assets
Polaris Capital Group has acquired Sendenkaigi, which claims to be Japan’s leading publisher of marketing and communications-related content, as well as its recruitment-focused subsidiary.
Global PE sees fundraising, performance contraction - McKinsey
Global private equity fundraising contracted 15% in 2022 as McKinsey & Company’s latest private markets annual review painted a bleak picture of the asset class, noting that one-year performance entered negative territory for the first time since 2008.
Accenture buys India's VC-backed Flutura
Flutura, an India-headquartered provider of artificial intelligence-enabled (AI) analytics services to industrial customers, has been acquired by Accenture. The deal facilitates an exit for several VC investors, including Vertex Ventures.
BPEA EQT seeks financing for Vistra, Tricor merger
BPEA EQT is pushing ahead with the merger of Asia-headquartered corporate services providers Vistra Group and Tricor Group, having initiated discussions on pricing a USD 1.66bn financing package.
Deal focus: WorldLink reaches into Nepal’s hinterlands
British International Investment and Dolma Fund Management are supporting WorldLink’s rollout of internet services in Nepal, having been impressed how the company handled COVID-19
Q&A: 17Capital’s Pierre-Antoine de Selancy
17Capital is a credit provider to the private equity industry, lending against fee streams at the GP level and the fund level. Pierre-Antoine de Selancy, the firm’s managing partner, assesses the market
DEG leads round for Indonesian mRNA vaccine developer
German development finance organisation DEG has contributed USD 8m as the lead investor in a new funding round for Etana Biotechnologies Indonesia, supported by Yunfeng Capital, HighLight Capital, and East Ventures.
Asia PE compensation set for downward adjustment in 2023
Compensation for private equity professionals at most levels of seniority in Asia Pacific continued its upward trend in 2022 despite a weaker economic outlook and a slowdown in deal flow, but executive search firm Heidrick & Struggles expects some kind...
Partners Group hires Greater China fundraisers
Partners Group has added fundraising bandwidth in Greater China, recruiting Jin Wang as a managing director responsible for institutional coverage and making two private wealth hires.
Australia's Potentia wins majority shareholder approval for Nitro bid
Potentia Capital has secured support from more than half of Nitro Software’s shareholders for a take-private bid that values the listed Australian company at up to approximately AUD 552m (USD 370m).
Lighthouse hits $200m first close on fourth India fund
Lighthouse Funds has reached a first close of approximately USD 200m on its fourth India mid-market fund – four months after returning nearly the entire Fund III corpus through an exit from beauty e-commerce platform Nykaa.
GPs double down on value creation to maintain returns - AVCJ Forum
Private equity investors must find more operational levers to pull as LPs seek the same if not higher returns from the asset class despite more challenging economic conditions.
Australian HNWIs want more PE exposure, but obstacles remain - AVCJ Forum
Private equity may not be proven in the eyes of Australia’s high net worth investors, most of whom haven’t been exposed to the asset class across multiple cycles, but it earned wider recognition last year as public equities and fixed income struggled.
Deal focus: Mapping malls and metaverses
Mapxus sees indoor maps of high-traffic areas in high-density cities as the last piece of infrastructure to digitalise. The Hong Kong start-up has won corporate and VC backing to expand region-wide
LP interview: North East Private Equity Asia
Seven years ago, Sam Robinson was invited to build a European family office’s Asia private equity portfolio from the ground up. He favoured familiar faces in the small to mid-cap space