Articles by Tim Burroughs
Deal focus: IFM secures debut long-term capital deal
Targeting PRP Diagnostic Imaging through its long-hold fund meant IFM Investors could offer the company stability and partnership. It expects to generate dividend yield and capital growth
Fund focus: Panacea defies biotech downturn
Having raised its second fund amid weakening investor sentiment for biotech, Panacea Venture expects deployment to be guided by a widening valuation gap between the US and China
Asia Partners targets $600m for second Southeast Asia fund
Asia Partners, a Singapore-based private equity firm focused on growth-stage technology investments, is targeting USD 600m for its second fund.
China's Primavera targets $300m for credit fund
Primavera Capital Group is looking to raise USD 300m for a private credit fund as the China-focused private equity firm continues to diversify its offering by geography and strategy.
Japan's Jafco launches buybacks to thwart activist threat
Japanese venture capital firm Jafco has announced a JPY 42bn (USD 305m) share buyback programme that will take out positions held by investors with ties to activist investor Yoshiaki Murakami.
China's CMC trims stake in City Football Group
China-based CMC Capital has exited the bulk of its remaining stake in City Football Group (CFG), a series of football clubs built around the Manchester City brand, with CMC founder Ruigang Li vacating his seat on the company’s board.
ACE Equity-backed SPAC acquires US electronics player
ACE Convergence Acquisition Corp, a special purpose acquisition company (SPAC) sponsored by Korean PE firm ACE Equity Partners, has completed a merger with US-based electronics manufacturer Tempo Automation. The equity valuation of the business was cut...
Unison Korea targets $680m for Fund III
Unison Capital is targeting KRW 800bn-KRW 900bn (USD 603m-USD 680m) for its third Korea fund, nearly twice what was raised in the previous vintage.
Heliconia, Yanzijiang Financial launch SE Asia SME fund
Temasek Holdings-owned Heliconia Capital Management has teamed up with Singapore-listed Yanzijiang Financial Holding to launch a fund that will invest in small and medium-sized enterprises (SMEs) in Southeast Asia.
India's Multiples targets up to $1b for Fund IV
Multiples Alternate Asset Management is looking to raise up to USD 1bn for its fourth India-focused fund, with the International Finance Corporation (IFC) proposing a USD 60m commitment.
Lighthouse seals partial exits from India's Nykaa with 14x return
Lighthouse Funds has generated a more than 14x multiple on its investment in India-based beauty e-commerce platform Nykaa following two partial exits in the past fortnight.
Hong Kong's LionRock exits UK shoe brand Clarks
LionRock Capital, an Asian private equity firm that invests in global consumer brands with a China growth angle, has agreed to sell its stake in British shoe brand Clarks to Viva China, a holding company controlled by Li Ning, founder of the eponymous...
India's Five Star completes $195m IPO, GPs make partial exits
Five Star Business Finance, an Indian non-banking financial company (NBFC) that has received several rounds of private funding, gained 3% on debut following an INR 15.9bn (USD 195m) domestic IPO.
ESG: The case for convergence
With ISSB pursuing pre-eminence in sustainability-related financial disclosures and TCFD emerging as a preferred climate framework, investors and investees will have to get more serious about reporting
Sport investment: China fading
Once a white-hot investment theme in China, and for Chinese investors looking overseas, sport has slipped into obscurity amid concerns about regulation and monetisation
Fundraiser Atul Phull departs Everstone for UBS
Atul Phull, who spent nine years with India and Southeast Asia-focused private equity firm Everstone Group across two stints, has joined the private funds group at UBS as an executive director.
Brookfield buys Hong Kong's Trimco from Affinity - update
Affinity Equity Partners has sold Hong Kong-headquartered garment label manufacturer Trimco Group to Brookfield Asset Management, for an enterprise value of USD 850m.
Apollo’s Rowan tips alternatives allocations to top 50% - AVCJ Forum
Marc Rowan, CEO of Apollo Global Management, told the AVCJ Private Equity & Venture Forum that he expects most investors to have an alternatives allocation of at least 50% within five years.
Bain buys Japan fashion business
Bain Capital has agreed to acquire a majority stake in Mash Group, a Japan-based fashion label, for an undisclosed sum.
Blackstone pursues $359m take-private of India's R Systems
The Blackstone Group has agreed to acquire a majority stake in India-based IT services provider R Systems International at a valuation of INR 29.04bn (USD 359m) and moved to delist the company.
Investors see 2022 as a 'turning point' in GP-LP relations - AVCJ Forum
The private equity industry has undergone a profound shift as under-allocations have become over-allocations, fundraising and deployment have slowed, and the dynamic between GP and LPs has changed, the AVCJ Private Equity & Venture Forum heard.
Panacea closes second healthcare fund on $276m
Panacea Venture, a healthcare-focused investment firm established by James Huang, formerly a partner at KPCB China, has closed its second fund with approximately USD 276m in commitments.
TPG's Coulter calls for patience, perspective amid 'great reset' - AVCJ Forum
James Coulter, executive chairman and founding partner of TPG, told the AVCJ Private Equity & Venture Forum that the current “great reset” represents one of the most interesting periods in his career, although he advised investors to look beyond immediate...
BPEA EQT, Blackstone, PEP claim top prizes at AVCJ Awards
Baring Private Equity Asia – now BPEA EQT – retained the large-cap firm of the year prize at the 2022 AVCJ Private Equity & Venture Capital Awards as it, Pacific Equity Partners (PEP), and The Blackstone Group claimed two victories apiece.