Articles by Tim Burroughs
Graybeards: External directors and PE portfolio companies
Just over eight years ago, I penned an article for another publication on the role of independent directors at Chinese state-owned enterprises (SOEs). This was mid-2007, and China Construction Bank (CCB), Bank of China (BoC) and Industrial & Commercial...
P2P lender China Rapid Finance gets $35m Series C round
Broadline Capital has led a $35 million Series C round of funding for peer-to-peer (P2P) lending platform China Rapid Finance. The investment gives the business a pre-money valuation of $1 billion.
New Zealand’s Booktrack receives $5m Series B round
Booktrack, a New Zealand-based company that provides movie-style soundtracks and ambient audio for eBooks, has raised $5 million in Series B funding led by Coent Venture Partners and Sparkbox Ventures.
Costa slips below IPO price after $401m Australia offering
Costa Group, an Australia-based fresh fruit and vegetables producer controlled by Paine & Partners, is trading below its IPO price following a $550 million ($401 million) offering.
Allegro buys controlling stake in New Zealand’s Carpet Court
Australasia distress specialist Allegro Funds has announced the third investment from its second fund with the acquisition of a controlling stake in Carpet Court, a New Zealand-based flooring retailer.
VIDEO: Shaw Kwei & Partners' Kyle Shaw
The competitive environment for private equity deals in Asia is less intense than at any time in the last 10 years as players investing before the global financial crisis have pared back their activity, says Kyle Shaw, founder and managing director at...
Australia’s Heron Resources gets backing from Greenstone
Mining and metals investor Greenstone Resources has committed up to A$20 million ($14.6 million) to Heron Resources, an Australia-listed company currently developing a zinc-copper project in New South Wales.
Ex-TPG Growth executive joins Singapore’s Jungle Ventures
Singapore-based Jungle Ventures has appointed David Gowdey, previously of TPG Capital’s growth investment unit, as a managing partner.
Korea launches another attempt to sell Woori Bank stake
The South Korean government is once again trying to sell its controlling stake in Woori Bank, this time dividing the asset into multiple tranches so that there is no one dominant shareholder.
Leading Capital backs take-private for China’s Mecox Lane
China health, beauty and lifestyle products retailer Mecox Lane has received a take-private offer from majority shareholder Cnshangquan in conjunction with private equity firm Leading Capital. It values the business at approximately $52 million.
PE-backed CICC files for Hong Kong IPO
China International Capital Corp. (CICC), which is backed by KKR, TPG Capital and Singapore’s GIC Private, among others, has filed for a Hong Kong IPO. The company is said to be looking to raise around $1 billion.
Hong Kong profit tax: Breakthrough
The move to extend the profit tax exemption for offshore funds in Hong Kong to include private equity has been more than two years in the making. After various lobbying efforts, plans to extend the exemption – already enjoyed by the hedge fund industry...
PE investors must think more deeply about value-add - AVCJ Forum
PE and VC firms should think more carefully about how they can add value to portfolio companies, using their board representation as a tool for constructive guidance as much as oversight, industry participants told the AVCJ Singapore Forum.
KKR supports Philippines social enterprise project
KKR has completed its second social enterprise assistance project alongside Impact Investment Exchange Asia (IIX) and its non-profit sister organization Shujog, providing support to Glovax Biotech, which sells affordable vaccines to low to middle income...
Australia's PEP to sell Energy Developments for $1.4b
Pacific Equity Partners (PEP) has agreed to sell Energy Developments, an Australia-based provider of distributed power to the mining industry, to utilities business Duet Group for an enterprise valuation of A$1.92 billion ($1.4 billion).
Hong Kong introduces tax exemption for private equity
The Hong Kong government has extended the profits tax exemption for offshore funds – from which the hedge fund industry already benefits – to include private equity.
GPs see potential in SE Asia mid-market buyouts - AVCJ Forum
Southeast Asia will see more mid-market buyout opportunities, industry participants told the AVCJ Singapore Forum, although the onus remains on GPs to forge partnerships with entrepreneurs.
2Q analyisis: The bulls hesitate
China's equities wobble is unlikely to discourage companies from local listings, and a rise in renminbi fundraising could result; Asia investment hits record high; public market sales dominate exit activity
China GPs not worried by public markets volatility - AVCJ Forum
China-focused GPs played down the recent slide in the domestic stock markets, urging investors to concentrate on the long-term opportunities presented by continued growth and economic reforms.
Hosen targets $400m for China food and agri fund
China-focused food and agriculture specialist Hosen Capital is looking to raise $400 million for its second US dollar-denominated fund.
Corporate carve-outs: Slice and dice
A mainstay of private equity in the US and Europe, it is hoped that corporate carve-outs will play a larger role in Asia. Success rests on innovative deal-sourcing and careful management of multiple stakeholders
India IPOs: Best intentions
Should Cafe Coffee Day, the largest player in India's chained café market, succeed in raising INR11.5 billion ($180 million) in its IPO, it would be the largest PE-backed offering on a domestic bourse in close to eight years.
Ex-Telstra Super PE executive turns agribusiness investor
Robert Talevski, previously head of private markets portfolio manager at Telstra Super, has set up an investment firm that will source and execute deals in Australian agribusiness, taking advantage of strong cross-border demand for exposure to the space.
VIDEO: CPPIB's Mark Machin
Canada Pension Plan Investment Board (CPPIB) is one of few North American LPs to set up an office in Asia and Mark Machin, the group's head of international and Asia president, admits it is not for everyone