Articles by Tim Burroughs
L Capital buys Australian swimwear brand Seafolly
L Capital Asia, a private equity firm sponsored by French luxury goods conglomerate LVMH, has acquired a controlling stake in Australian swimwear brand Seafolly.
Southeast Asia's Lazada rockets past $700m mark
“We go in with a certain hypothesis of growth and revenue. Sometimes you’re not able to guess how the market will react. If the hypothesis is not confirmed within 3-6 months then we decide to pull out.”
India secondaries: Much heat, little light
India has yet to fulfil its potential as a direct secondaries market as buyers and sellers fail to agree on valuations. A revival in investor sentiment hasn’t helped matters, but patience may eventually pay off
Portfolio: Advent International and CARE Hospitals
A majority stake in CARE Hospitals has allowed Advent International into India’s fast-growing healthcare sector. Rather than blindly pursuing expansion, the PE firm is building a business tailored to local demand
GP-LP relations: Trust issues
“GPs think LPs are liars" - it is a sensational designed to draw attention to an issue that is nearly as old as institutional fund management itself. Numerous past surveys and mountains of anecdotal evidence suggest that communication problems and mutual...
Temasek leads $249m round for SE Asia-focused Lazada
Temasek Holdings has led a EUR200 million ($249 million) round of funding for Lazada, a Southeast Asia-focused online retailer set up by Germany’s Rocket Internet.
VC-backed Chinese dating app set for $267m US IPO
Momo, a Chinese location-based social-networking app with several VC backers, will raise up to $266.8 million through a US IPO. The company has also agreed to sell shares to Alibaba Group and 58.com through a separate private placement.
China's AVIC Capital scraps plan to acquire Avolon
AVIC Capital, a subsidiary of aircraft manufacturer Aviation Industry Corporation of China, has been rebuffed in its attempt to acquire Avolon, an aircraft leasing company owned by several PE firms.
CHAMP PE-owned oOh! Media targets $141m Australia IPO
Australian outdoor advertising company oOh! Media, which is owned by CHAMP Private Equity, plans to raise A$166 million ($141 million) through an IPO.
Samyang named as SCPE partner in Korean packaging deal
South Korean conglomerate Samyang Corporation has emerged as Standard Chartered Private Equity’s (SCPE) in the acquisition of a packaging business from another conglomerate, Hyosung Corporation.
Financial technology accelerator launches in Singapore
Startupbootcamp FinTech, a Europe-based accelerator that focuses on financial technology, has launched an Asian program in Singapore.
Korean government’s Woori Bank sale flounders again
The South Korean government will make another attempt to sell its controlling stake in Woori Bank early next year following the collapse of the latest in a string of sale processes last week.
AIA, Nest set up accelerator for Hong Kong start-ups
AIA Group has teamed up with early-stage investor Nest to form a Hong Kong-based accelerator that will support start-ups with technologies relevant to the insurance and healthcare industries.
Canada's Fairfax Financial launches India investment unit
Fairfax Financial Holdings, which previously acquired Thomas Cook India through Fairbridge Capital, is launching a publicly-traded unit that will target investments in the country.
Revived vacuum retailer Godfreys set for Australia IPO
Australian vacuum and cleaning products retailer Godfreys Group, which was acquired by Unitas Capital and Pacific Equity Partners (PEP) and then taken over by creditors after running into trouble, is preparing to go public following a turnaround.
PE investors set for another JD.com windfall
Capital Today, DST Advisors and Hillhouse Capital Management will sell more shares in Chinese e-commerce giant JD.com through a follow-on offering.
Goldman leads $36m round for Korean food-ordering platform
A Goldman Sachs-led consortium has invested KRW40 billion ($36 million) in Woowa Brothers Corp, owner and operator of Baedal Minjok, South Korea’s leading digital food-ordering platform.
Visteon confirms PE talks over Korea divestment
US auto parts maker Visteon Corp. has confirmed it is in negotiations with private equity firm Hahn & Co. over the potential sale of its South Korea-based subsidiary Halla Visteon Climate Control Corp. (HVCC).
SSG buys stake in India distressed assets specialist
Asia special situations investor SSG Capital Partners has acquired a 49% stake in Asset Care & Reconstruction Enterprise (ACRE), which acquires distressed debts from Indian banks, for INR410 million ($6.6 million).
Q&A: Everstone Capital's Atul Kapur
Everstone Capital is currently raising its third fund, which will target India and Southeast Asia. Atul Kapur, the firm’s co-founder and managing partner, looks back on existing investments and offers insight into future ones
India fundraising: Moment of truth
With investor sentiment in India’s public markets on a roll, a host of mid-market private equity firms are either in fundraising mode or about to enter it. For some managers, at least, it will be a difficult process
India control deals: Are you buying it?
The India private equity buyout thesis is gathering momentum, with economic and generational factors swinging in the industry’s favor. GPs must convince LPs that they have the skills to execute this strategy
News Corp invests in PE-backed India property platform
News Corp has paid $30 million for a 25% stake in the parent of PropTiger.com, an India-based online property marketing platform backed by SAIF Partners and Accel Partners.
Korean court favors Lone Star in $159m KEB tax case
Lone Star Funds is closing in on a KRW177.2 billion ($159 million) payout from the South Korea tax authorities after a court said the PE firm should be refunded taxes levied on its sale of a stake in Korea Exchange Bank (KEB).