Articles by Tim Burroughs
PAG targets $3b for second Asia fund
PAG Asia Capital has launched its second pan-regional fund and is looking to raise $3 billion. The GP, which is led by Weijian Shan, formerly of TPG Capital, closed its maiden fund at $2.5 billion in 2012.
ICG invests in Korean tutoring business
Intermediate Capital Group (ICG) has invested an undisclosed sum in Time Education, a privately-owned education company in Korea that provides tutoring services from kindergarten through high school.
Q&A: Unison Capital's Tatsuo Kawasaki
Unison Capital is in the process of raising its fourth Japan-focused fund. Tatsuo Kawasaki, a partner at the firm, discusses how government policy and market dynamics might impact its deployment
Deal focus: Warburg Pincus rides with China’s eDaijia
It is estimated that around three shots of soju is sufficient for an adult to attain a blood alcohol content of 0.05% and therefore be in violation of Korea’s laws that prohibit driving while intoxicated. Punishments start at six months in jail or a...
PE tech boom: High stakes
It is still only May but Asia has seen 28 deals in the technology, media and telecom (TMT) space of $100 million or more. This compares to 31 in 2014 and an average of approximately 14 for the eight years before that.
PE, Alibaba-backed Baozun set terms for US IPO
Baozun, a Chinese e-commerce platform solutions provider that has several strategic and private equity backers, has set terms to raise up to $177.1 million through a US IPO.
GEMS invests $20m in East China Sea energy player
GEMS, a natural resources-focused PE firm, has subscribed to a $20 million convertible bond issued by Primeline Energy Holdings (PEH) to support development of its East China Sea oil and gas interests.
TPG, PAG-owned DTZ to buy Cushman & Wakefield for $2b
DTZ, a property services provider owned by TPG Capital, PAG Asia Capital and co-investor Ontario Teachers’ Pension Plan (OTPP), has agreed to buy industry peer Cushman & Wakefield for an enterprise value of $2 billion.
Babson closes Asia mezzanine fund at $177m
Babson Capital Management has reached a final close of $177.2 million on its latest Asia-focused mezzanine fund.
China tour provider gets $500m from JD.com, PE investors
Tuniu, a US-listed Chinese online package tour provider, has agreed to raise $500 million through a private placement to e-commerce giant JD.com and several of its existing PE and VC backers.
CNEI invests $15m in China private school operator
China New Enterprise Investment (CNEI) has led a $15 million round of funding for Guanghua Education Group, a China-based private school operator.
MBK invests in China logistics player Apex International - update
North Asia-focused buyout firm MBK Partners has acquired a majority stake in Apex International Corporation, a China-based logistics company with a strong presence in freight forwarding.
Nexus raises $434m for two India VC funds
Nexus Venture Partners has closed its fourth India venture capital fund at $304 million and raised a further $130 million for a top-up fund focusing on later-stage investments in existing portfolio companies.
CITIC Private Equity raises $1.3b for second US dollar fund
CITIC Private Equity has closed it second US dollar-denominated China fund with just under $1.3 billion in commitments.
Fosun to take 20% in payment play Ingenico Group
Fosun Group has invested in Europe-based payment services provider Ingenico Group with a view to helping the company develop its business in China.
Chinese drone maker gets $75m from Accel
Accel Partners has provided $75 million in funding to DJI, a China-based drone manufacturer. The investment is said to value the company at $8 billion.
Quadrant exits New Zealand lender Heartland
Quadrant Private Equity has exited Heartland New Zealand, selling its 8.75% stake in the lender for NZ$53.5 million ($40.1 million) through a block trade.
Australia's portfolio disclosure rule pushed back again
The Australian government has once again deferred introduction of portfolio holdings disclosure legislation that could require domestic LPs to reveal the identity and investments of each PE and VC fund they back.
Australia mezzanine: Compromise solution
The rise of holdco PIK debt has created Australia-based financing structures in which senior lenders and mezzanine providers can coexist. They also offer GPs greater flexibility at what is, for now, an acceptable price
Warburg Pincus leads round for China designated driver service
Warburg Pincus has led a $100 million Series D round of funding for eDaijia, a Chinese mobile-based service that connects users with temporary drivers for their vehicles. Two existing investors, Matrix Partners China and Lightspeed China Partners, are...
Anthem invests in Myanmar mobile data collection platform
Myanmar-focused investor Anthem Asia has provided funding to Xavey, a local mobile data collection platform that works with groups conducting research and surveys.
Fund focus: Unison hones in on South Korea
Comparisons can be drawn between Unison Capital’s debut Korea buyout fund and its first Japan vehicle raised more than 15 years ago. The targets are small- to mid-size companies that have growth potential but need help realizing it, particularly in...
Deal focus: 2C2P plots regional expansion
Southeast Asia-focused payments provider 2C2P has made substantial progress in Myanmar over the last 12 months. It has introduced the country’s first mobile-based point-of-sale payment solution, issued prepaid cards that link to a mobile app, and launched...
China retail 2.0: The O2O effect
There are more than 2,500 retailers on Tmall, Alibaba Group’s business-to-consumer (B2C) e-commerce platform, claiming to sell products made by Chinese sportswear brand Li-Ning.