Articles by Tim Burroughs
Transition time: Succession planning in private equity
Asian GPs face increased scrutiny on succession planning as LPs seek to distinguish franchises that are sustainable from those that are not. For some founders, sharing economics and power isn’t easy
SoftBank marks down valuations of India's Ola, Snapdeal
SoftBank has marked down the value of part of its investment portfolio, including holdings India-based ride-hailing app Ola and its e-commerce counterpart Snapdeal.
Reliance PE arm commits $12m to India real estate start-up
Square Yards, an online listings service dedicated to the property sector, has received $12 million in funding from the private equity arm of Reliance Group.
Japan's INCJ invests $10m in Treasure Data
Innovation Network Corporation of Japan (INCJ) has invested $10 million in Treasure Data, a Silicon Valley-based big data start-up founded by two Japanese entrepreneurs.
PE-backed PNB Housing Finance gains on debut after $449m IPO
PNB Housing Finance, the mortgage lender subsidiary of India's state-run Punjab National Bank that is backed by The Carlyle Group, closed up 11.35% on its trading debut following a INR30 billion ($449 million) IPO.
Northstar backs SE Asia business accommodation supplier
Northstar Group has taken what is understood to be a minority stake in MG Group – a Southeast Asian “bedbank” that supplies hotel rooms to travel agents, wholesalers, aggregators and tour operators – for an undisclosed sum.
American Industrial Partners to buy Australia's Moly-Cop for $1.2b
American Industrial Partners (AIP) will buy Moly-Cop, the mining consumables division of struggling Australian mining and materials giant Arrium for an enterprise value of $1.23 billion.
KKR launches third Asian fund
KKR has launched its third pan-Asian fund, which has a target of up to $7 billion. The private placement memorandum was issued last week, according to a source familiar with the situation.
Joe Stevens, Bert Kwan leave Standard Chartered PE
Standard Chartered Private Equity (SCPE) CEO Joe Stevens and Bert Kwan, who was responsible for investment activity in Southeast Asia, have both left the firm. This leaves Nainesh Jaisingh in sole charge of the bank’s PE unit.
TPG-owned Inghams scales back Australia IPO
Ingham’s Enterprises, an Australian poultry producer bought by TPG Capital three years ago, has scaled back its domestic IPO to a target of A$596.4 million ($457 million).
VC-backed GDS prices IPO below indicative range
GDS Holdings, a Chinese data center provider that counts SBCVC among its investors, raised $192.5 million in its US IPO after pricing the offering below the indicative range.
Sovereigns and VC: An eye on the future
Australia's Future Fund appears to have overcome the philosophical and structural challenges facing face large-ticket LPs that want exposure to early-stage innovation
Southeast Asia dating app raises $32.5m round
Paktor, a Southeast Asia-focused mobile dating app, has received $32.5 million in new funding led by K2 Global – a venture capital firm that makes late-stage tech investments in Asia and the US – and Indonesia-based MNC Media Group.
PE-backed Yum China gains on US debut after spin-out
Yum China, the private equity-backed group that operates KFC, Pizza Hut and Taco Bell in the country, gained 8% on its US trading debut after completing its separation from parent Yum Brands.
Advent buys China mattress maker from CITIC Capital
Advent International has acquired a majority stake in Chinese mattress maker King Koil Shanghai Sleep System from CITIC Capital Partners for an undisclosed sum.
COFCO Meat completes $252m Hong Kong IPO
COFCO Meat, a subsidiary of Chinese agricultural conglomerate COFCO Group that received backing from four private equity firms in 2014, has raised HK$1.95 billion ($252 million) in its Hong Kong IPO, after pricing the offering at bottom of the indicative...
Australia's Future Fund emphasizes VC, growth equity
Private equity – and in particular venture capital and growth equity – is “more important now than it has ever been” to Future Fund’s overall portfolio, the Australian sovereign wealth fund said in its annual report.
Ironbridge-owned Bravura files for $113m Australia IPO
Australia-based financial services administrator Bravura Solutions is looking to raise A$148 million ($113 million) through a domestic IPO – three years after its PE owner Ironbridge Capital privatized the business in a deal worth A$173 million (then...
Acushnet gains on debut after lowering IPO price
Korea's PE-backed Acushnet Holdings, which owns the Titleist and FootJoy golf brands, saw its shares jump 5.9% in the first day of trading on the New York Stock Exchange following a smaller-than-expected $328.7 million IPO.
STIC raises $530m for Korea special situations fund
STIC Investments has raised $530 million for a special situations fund that will target restructuring opportunities involving South Korean conglomerates.
Ropes & Gray adds partner to Asia private funds practice
Vincent Ip, a Hong Kong-based partner with Ropes & Gray’s private investment funds group, has been promoted to partner.
CDH realizes $806m through part-exit from WH Group
CDH Investments has made another partial exit from Chinese pork producer WH Group, selling an approximately 6.83% stake for HK$6.25 billion ($806 million).
Japanese strategic buys Mactac from Platinum Equity
Japanese adhesives producer Lintec Corporation has agreed to buy US-headquartered labels manufacturer Mactac from Platinum Equity for $375 million.
Corporate carve-outs: Who's selling?
Certain markets in Asia represent a target-rich environment for corporate carve-outs, but private equity firms must be patient in waiting for deals to emerge