Articles by Tim Burroughs
Execution issues
Another week, another divestment by a Japanese conglomerate. This time it was Sony, which agreed to sell its personal computer business to Japan Industrial Partners (JIP) in a deal thought to be worth JPY40-50 billion ($394-493 million).
Alibaba seeks full acquisition of AutoNavi
Chinese e-commerce giant Alibaba Group has offered to buy the 72% of NASDAQ-listed AutoNavi Holdings that it doesn’t already own for $1.13 billion. The take-private deal would value the digital mapping and navigation firm, which has previously received...
WestBridge raises further $325m for India fund
WestBridge Capital has raised an additional $325 million from investors for its 2011 vintage WestBridge Crossover Fund, taking the corpus size to $850 million. The vehicle, which targets PIPE deals, is described as an evergreen fund without a specific...
PE-backed Thomas Cook India, Sterling Holiday to merge
Thomas Cook India, which was bought by Fairbridge Capital in 2012, has agreed to merge with Sterling Holding Resorts India, another private equity-backed enterprise, in a part-equity, part-cash deal worth INR8.7 billion ($140 million).
KKR eyes Asia opportunities as valuations fall
KKR sees increasing opportunities in Asia for private equity and special situations as valuations fall amid growing investor uncertainty about the prospects for emerging markets globally.
KKR provides $100m in structured finance to India’s Avantha
KKR has agreed to provide $100 million in long-term financing to Avantha Group in order to help the Indian conglomerate pay down debt and continue investing in its businesses. The capital will come from KKR India Financial Services, the private equity...
Navis raises $1.3b for seventh Asia fund
Navis Capital Partners will complete fundraising for its seventh Asia vehicle next week with up to $1.3 billion in commitments from LPs. Work will then begin on a shariah-compliant parallel fund, which is expected to close in June, taking the final total...
CDC supports funding round for Indian e-commerce platform
CDC Group will contribute approximately $27.5 million to the latest round of funding for Jabong, a fashion and apparel-focused Indian e-commerce platform.
WestBridge takes minority stake in Indian snack foods producer
WestBridge Capital Partners has acquired 24.9% of DFM Foods, a leading Indian snack foods manufacturer best known for Crax Corn Rings.
IDG, Ascent invest in India's Newgen, Headland exits
IDG Ventures India and Ascent Capital have acquired a minority stake in Newgen Software Technologies, a Dehli-based business management services provider, for INR1.1 billion ($17.6 million). The investment facilitates the exit of Headland Capital Partners.
JIP in talks to buy Sony’s PC business – report
Japan Industrial Partners (JIP) is said to be in talks with Sony Corp. over the tech conglomerate’s loss-making personal computer division. It would be one of the country’s highest-profile corporate divestments and part of a business reorientation...
India to allow LBOs for distressed assets
Indian banks will be allowed to support leveraged buyouts of distressed companies by “specialized entities” according to plans released by the Reserve Bank of India. Under a liberalized regulatory regime for asset sales, sector-specific private equity...
PE consortium buys Aditya Birla Nuvo's BPO unit for $260m
An investor group led by Capital Square Partners and CX Partners has agreed to buy Aditya Birla Minacs Worldwide, a business process outsourcing (BPO) unit owned by Aditya Birla Nuvo (ABNL), for an enterprise value of $260 million.
Australia's Catalyst secures $245m Actrol trade sale
Catalyst Investment Managers has exited Actrol Group, a components and systems supplier to the heating, ventilation and refrigeration industry, to Reece Australia for A$280 million ($245 million).
Navis buys control of Hong Kong chemicals producer
Navis Capital Partners has acquired a controlling interest in Amazon Papyrus Chemicals Group, a Hong Kong-based chemicals manufacturer that supplies the paper and pulp industry.
CVC hires Asia consumer sector specialist as advisor
CVC Capital Partners has appointed consumer sector veteran Jeremy Hobbins as a senior advisor to the pan Asia team.
Equis, Partners Group bet on Japanese solar
Japan's rapid embrace of renewable energy in the wake of the 2011 Fukushima nuclear disaster has alerted PE investors. In the last 12 months, Macquarie Capital and local engineering firm Maeda Corp. launched a joint venture that will target infrastructure...
CDH to close upsized Fund V at $2.55b
Speaking to AVCJ last year, Shangzhi Wu (pictured), chairman and managing partner of CDH Investments, addressed the issue of certain China managers’ fund sizes rising with each vintage. He put the phenomenon down to a combination of rising valuations,...
Auda raises $332 million for third global secondaries fund
Auda International has announced a final close on its third global secondaries fund at $332 million, exceeding the initial target of $300 million. Existing Auda investors accounted for more than 60% of the capital raised.
TPG, Carlyle assess exit options for Australia's Healthscope
Healthscope, an Australian hospital operator owned by TPG Capital and The Carlyle Group, looks set for an IPO that could generate proceeds of around A$4 billion ($3.5 billion).
IDG spin-out Banyan Capital raises $206m for China fund
Banyan Capital, a China-focused VC group that spun out from IDG Capital Partners, has closed its debut fund at $206 million. High net worth individuals – primarily the founders and CEOs of companies the team backed while at IDG – contributed more...
AVCJ daily bulletin returns February 4
AVCJ's daily bulletin will take a short break for the Lunar New Year holiday. Publication will resume on February 4. The weekly magazine is also on hiatus, with the next issue released on February 11.
RedMart fills Singapore’s e-groceries void
When entrepreneur Steve Melhuish moved to Asia from the UK his wife was a prodigious online shopper, having grown accustomed to ordering her groceries from Ocado or Waitrose. While he made headway in Singapore’s internet space, launching realty portal...
VC firms back Irish start-ups in China
Led by the likes of Google, Facebook and LinkedIn, US tech companies have flocked to Ireland due to its EU access and business friendly policies, creating around 140,000 local jobs in the process. This has fostered spin-outs and serial entrepreneurs across...