Articles by Tim Burroughs
KKR, CDH to exit China Modern Dairy for a second time
KKR and CDH Investments have agreed to sell HK$1.87 billion ($241.5 million) worth of shares in China Modern Dairy – which will see them fully exit a position they received when selling part of a greenfield cattle farming joint venture to Modern Dairy...
Hillhouse to help SaaS player Magento with Asia expansion
China-based Hillhouse Capital will invest $250 million in Magento Commerce, which provides transaction-processing software to e-commerce players, and help the company expand in Asia.
China-US: Outbound angst
Controls on capital outflows imposed by Beijing and concerns about a more aggressive trade policy out of Washington mean Chinese investment in the US is unlikely to match 2016's highs, but this is not necessarily bad for Chinese PE investors
Warburg Pincus, Tencent lead $215m round for China's Mobike
Chinese bike-sharing start-up Mobike has received $215 million in Series D funding, led by domestic internet giant Tencent Holdings and Warburg Pincus. The company now claims to be the best funded participant in its industry globally.
VIDEO: Khailee Ng, 500 Startups
Khailee Ng, managing partner at 500 Startups, discusses the development of venture capital in Southeast Asia
C-Bridge leads $100m round for China's Ascletis
Healthcare-focused PE firm C-Bridge Capital has led a Series B round of funding worth $100 million for Ascletis, a Chinese biotechnology company that specializes in treatments for liver disease.
AEA-backed ThreeSixty Group buys US lifestyle brand
AEA Investors-owned ThreeSixty Group, a China and US-based business that designs, sources and distributes consumer products for US retailers, has acquired lifestyle brand The Sharper Image from Iconix Brand Group for $100 million.
GP-LP: Rules of engagement
Large LPs want to reduce the number of PE managers in their portfolios and generate more value from the outperformers that remain. The GP-LP relationship is becoming closer and more complicated
H Capital joins $273m round for HNA's travel finance unit
H Capital has participated in a Series B-plus round of funding worth RMB1.9 billion ($273 million) for E-life Finance, the travel financial services unit of Chinese conglomerate HNA Group.
AVCJ Awards 2016: AVCJ Special Achievement: K.Y. Tang
K.Y. Tang was among the pioneers of leveraged buyouts in Asia while at UBS Capital Asia. He subsequently spun out to form Affinity Equity Partners, where the success continues
AVCJ Awards 2016: Private Equity Professional of the Year: Frank Tang
From re-listing Focus Media in Shenzhen to closing Fund III at $2.1 billion, FountainVest Partners has enjoyed a fruitful 12 months. CEO Frank Tang assesses the China market
EMR buys Australian precious metals mine for $210m
EMR Capital has agreed to pay $210 million for Golden Grove, a precious metals mine in Western Australia owned by China Minmetals Group (MMG).
TA backs India drug ingredients manufacturer
TA Associates has invested INR1.72 billion ($25.5 million) in listed Indian drug ingredients manufacturer Shilpa Medicare.
GIC, Tecent, NavInfo to take mapping business Here into China
Singapore’s GIC Private has teamed up with China’s Tencent Holdings and NavInfo – a digital maps and location services provider backed by Tencent – to acquire a 10% stake in Here, a US-headquartered open location company.
Puji Capital, Galaxy platform to back foreign start-ups in China
Chinese investment group Puji Capital has formed a joint venture platform with domestic property developer Galaxy Holdings that will invest in more than 10 start-up and growth companies across mobile gaming, media technology and consumer hardware.
India's Lightbox raises $54m top-up fund
Indian venture capital firm Lightbox has raised a $54 million top-up fund that will be used to make additional investments in certain portfolio companies.
AVCJ Awards 2016: Fundraising of the Year - Large Cap: PAG Asia Capital
Having paid careful attention to liquidity levels in its debut vehicle, PAG Asia Capital took less than seven months to close its second regional fund at $3.6 billion
Australia's Tatts rejects $5.4b bid from PE-backed consortium
Australian lottery operator Tatts Group has rejected a A$7.3 billion ($5.4 billion) buyout offer from a PE-backed consortium, saying the terms are inferior to those in a proposed merger with industry counterpart Tabcorp.
MSPEA commits $25m to India's ZCL Chemicals
Morgan Stanley Private Equity Asia (MSPEA) has invested INR1.7 billion ($25 million) in ZCL Chemicals, an India-based pharmaceuticals company that focuses on niche therapeutic areas such as the central nervous system, antiretroviral treatments and controlled...
AVCJ Awards 2016: Exit of the Year - Large Cap: Loen Entertainment
Vertical integration and growing interest in Korean media assets enabled Affinity Equity Partners to secure a strong return on Loen Entertainment, far quicker than anticipated
Asian LPs contribute 23% of Apax's $9b global fund
Asia-based investors account for just under one quarter of commitments to Apax Partners’ latest global fund, which has closed at the hard cap of $9 billion after less than a year in the market.
CHAMP Ventures, Frontenac exit H-E Parts to Japan's Hitachi
Australia's CHAMP Ventures and its US-based partner Frontenac will exit H-E Parts – a leading provider of replacement parts for mining and construction vehicles – as Hitachi Construction Machinery agreed to buy the business for an enterprise valuation...
AVCJ Awards 2016: Deal of the Year - Large Cap: Golden Apple Education
PAG Asia Capital spent 12 months negotiating over Golden Apple Education Group, but emerged with the first sizeable buyout-cum-restructuring by a foreign PE firm in China
OPIC backs Unreasonable Capital
The Overseas Private Investment Corporation (OPIC) has committed $5 million to the debut fund being raised by Unreasonable Capital, which focuses on social and environmental issues in emerging markets.