Articles by Tim Burroughs
Baring Asia, Hony agree Giant Interactive take-private
Chinese online game developer Giant Interactive has accepted a buyout offer from a consortium including Baring Private Equity Asia, Hony Capital and company management. It values the New York Stock Exchange-listed business at approximately $2.9 billion.
Yunfeng seeks $1b for second China tech fund
Yunfeng Capital, a Chinese private equity firm established by Jack Ma and David Yu, founders of Alibaba Group and Target Media, respectively, is raising around $1 billion for its second fund. A first close of $600 million came last year and a final close...
Eaton Partners hires Jackson Chan for Asia distribution
Placement agent Eaton Partners has hired Jackson Chan, previously head of business development for Hamilton Lane in Asia. He will work on distribution of liquid and illiquid alternative assets offerings throughout the region and also assist in origination.
Hao completes Pax Technology exit for 4.7x return
Hao Capital has fully exited Chinese electronic payment systems provider Pax Technology, selling its remaining 7.6% stake in the Hong Kong-listed company for $44 million through a block trade. The investment has generated a gross multiple of 4.7x.
Kerogen makes Asia oil and gas play, eyes Fund II
Kerogen Capital has invested A$30 million ($27 million) in Twinza Oil, which has oil and gas interests in Australia, Papua New Guinea and Thailand. The energy-focused GP is also said to be preparing to launch its next fund later in the year.
Standard Chartered infra head Andrew Yee to leave Asia
Andrew Yee, global head of infrastructure for Standard Chartered Bank's principal finance division, is leaving the firm. The decision is said to be mutual and amicable, with Yee set to depart in July after which he will relocate to Europe with his family.
L Capital buys majority stake in luxury restaurant operator
L Capital Asia, the private equity firm backed by luxury goods conglomerate LVMH, has bought a 51% stake in Ku Dé Ta Group, a restaurant and club operator with interests in Singapore and Thailand.
Female representation in Asian PE drops in 2013, still leads other markets
Asia-based private equity firms still have a higher proportion of women in high-level roles than their North American and European counterparts, although the average representation is down on the previous year, according to a study.
Templeton reaches final close on fourth emerging markets fund
Franklin Templeton has reached a final close of more than $220 million on its latest emerging markets fund. The vehicle, which launched in March 2012 with a target of $300 million, has already made three investments.
Q&A: Creador's Brahmal Vasudevan
Creador is in the process of raising its second fund, which has a target of $250 million, to be deployed in Indonesia, Malaysia and India. CEO Brahmal Vasudevan explains where the firm is investing and why
Indonesia acquisition finance: Squeezed at the margins
With bumper LBOs few and far between, banks see limited opportunities for leveraged finance in Indonesia. And in the prevailing economic climate, they aren’t generous at acquisition or operating company level
Indonesia macro: Tipping point?
Indonesia appears to have weathered the worst of its recent economic storms, but the route towards long-term sustainable growth has yet to be mapped out. PE investment theses rely on sensible navigation
Korean sovereign fund KIC appoints new CIO
Korea Investment Corporation (KIC) has appointed Heung-Sik Choo, formerly director general at Bank of Korea’s reserve management group, as its new CIO. He replaces Dong-Ik Lee, who resigned in January.
TPG eyes quick return from Inghams property sale
TPG Capital is planning to sell a portfolio of real estate assets held by Inghams Enterprises that could more than cover the equity commitment it made when buying the Australian poultry producer last year.
Australia's CHAMP PE seeks London listing for Shelf Drilling
Shelf Drilling, a shallow water drilling services company set up by Australia’s CHAMP Private Equity in conjunction with its US affiliate Castle Harlan and Lime Rock Partners, plans to list on the London Stock Exchange in May.
SBI education fund backs China's Tutor Group
TutorGroup, a China-based online education platform that recently raised $100 million in Series B funding, has added SBI Group as a strategic investor.
Blackbird set for $22m close on Australia VC fund
Australian VC firm Blackbird Ventures will reach a final close on its debut fund by the end of April with around A$25 million ($22.7 million) in capital commitments. There will be approximately 90 LPs, predominantly the founders of Australian tech start-ups...
Australian LPs still struggling with co-investment - AVCJ Forum
Australian LPs are increasingly keen on direct investment for the most part alongside portfolio GPs but not all groups are able to build and retain the resources required to participate effectively.
Australian super funds warn of regulatory impact on PE - AVCJ Forum
Australian superannuation funds that are not facing imminent payout deadlines remain committed to private equity, although managers say the more complex regulatory environment can hinder their approach to the asset class.
Kendall Court's mining compromise solution
Intrepid Mines was left with choice: continue to participate in the Tujuh Bukit copper-gold project in Indonesia as a minority investor, or sell up. It wasn't a choice the Australian resources company had envisaged making when it agreed to assume control...
A story that sells
One of the observation's made in last week's Australia-themed viewpoint was that private equity fundraising tanked in 2013, although there was a caveat.
Carlyle to buy Tyco's Korea unit for $1.93b
The Carlyle Group has agreed to buy fire safety and security systems provider Tyco International’s South Korean business for $1.93 billion. According to AVCJ Research, it is the largest-ever buyout in Korea by a global private equity firm.
CVC completes $215m sell down of Indonesia's Matahari
CVC Capital Partners has raised IDR2.49 trillion ($215 million) by trimming its stake in Indonesian retailer Matahari Department Store. This follows a $1.3 billion share sale last year by the PE firm and its local partner, the Riady family’s Lippo Group.
QIC PE unit invests in Australian building contractor
Australia’s QIC has bought a minority stake in Queensland-based Ostwald Construction Materials (OCM), the quarry and concrete solutions arm of Ostwald Bros. QIC acted through its private equity unit.