Articles by Tim Burroughs
Boston Scientific leads round for VC-backed Amaranth Medical
Amaranth Medical, a medical device manufacturer backed by Singapore’s Bio*One Capital and Phillip Private Equity, has received a Series C round of funding from US-listed Boston Scientific.
India’s ASK Group reaches first close on offshore real estate fund
ASK Group has reached a first close of $50 million on its debut offshore real estate fund. The full target for the vehicle, which will invest in middle income residential projects in Mumbai, Bangalore, the Delhi National Capital Region (NCR), Pune and...
Cerberus set for exit as Japan’s Seibu agrees to Tokyo listing
Seibu Holdings, the Japanese conglomerate that had a bitter falling out with leading shareholder Cerberus Capital Management over a planned IPO three years ago, is finally expected to list in Tokyo in the first half of 2014.
India Awards: Firm of the Year - Baring PE Asia
Baring Private Equity Asia’s efforts in India paid off last year with $650 million invested in Lafarge India and Hexaware Technologies. Jimmy Mahtani, the firm’s country head, tells AVCJ how it was done
India Awards: PE Deal of the Year – Alliance Tire Group
Sanjay Nayar, head of India at KKR, is cautiously optimistic about the prospects for private equity in the country. On one hand, there is belief in a long-term story driven by solid demographics and a clear need for strategic growth capital in key areas....
India Awards: PE Professional of the Year – Ravi Adusumalli
SAIF India defied a challenging exit market by taking Just Dial public and selling CSS Corp via a trade sale in 2013. Ravi Adusumalli, the firm’s managing partner, sees the weak IPO market as a mixed blessing for PE
4Q analysis: IPO awakening
Public market offerings return, or at least expectations of them; pan-regional players shore up weak fundraising market; growth deals to the fore as buyouts recede
NewQuest agrees $190m China Hydroelectric take-private
NewQuest Capital Partners has agreed to buy China Hydroelectric in a deal that values the US-listed hydropower operator at approximately $190 million.
Qiming hires ex-GGV partner to cover consumer internet space
Qiming Venture Partners has hired Helen Wong, formerly of GGV Capital, as a partner with responsibility for investment in the internet and consumer sectors. The move comes a few months after her predecessor in the role, Hans Tung, left Qiming for GGV.
Quvat-backed Blitzmegaplex targets Indonesia IPO
Blitzmegaplex, an Indonesian movie theater chain backed by Quvat Management, is targeting an IPO in the first quarter of 2014 as it seeks to raise capital for expansion.
Korea sovereign fund's CIO resigns
Dong-Ik Lee, the CIO of Korea Investment Corporation (KIC), has resigned. This comes less than three months after Chong-Suk Choi, president and CEO of the sovereign wealth fund, resigned for personal reasons.
LightInTheBox to buy VC-backed e-commerce player Ador
LightInTheBox, the venture capital-backed Chinese online retailer that went public in the US last year, has acquired US social e-commerce site Ador for an undisclosed sum.
Longreach agrees Christmas carve-out
Christmas was delayed at the Longreach Group as the North Asia-focused private equity firm finalized an agreement to buy Japanese molded plastics manufacturer Sol-Plus Group on December 25, bringing to an end several weeks of negotiations.
Hahn & Co agrees $380m Hanjin deal
Of the four leading Korean dry bulk carriers, Hanjin Shipping and Hyundai Merchant Marine are raising capital through asset sales and restructurings, while STX Pan Ocean and Korea Line have already filed for bankruptcy.
Value Creation: Shock and awe?
Asian GPs are building up their operational resources to support portfolio companies, but the true value of expertise is knowing when and where to make influence count
Has Asian PE lost its mojo?
Rewind 14 months to the 2012 AVCJ Forum and LPs were lukewarm on Asia. Several institutional investors participating in panels said it was difficult to justify committing more than 10% of their private equity allocation to the region until risk factors...
TA promotes Sippel, Wadhera to lead Asia operations
TA Associates has promoted Edward Sippel and Naveen Wadhera to co-heads of its Asia business. The changes were effective January 1.
Blackstone names Carnegie Australia PE head
The Blackstone Group has appointed James Carnegie as a senior managing director in its Sydney office from where he is expected to lead private equity activities in Australia.
SAIF leads $30m round for battery maker Amprius
SAIF Partners has led a Series C round of funding worth $30 million for Amprius, a lithium-ion battery manufacturer headquartered in the US but with production lines in China. All of the company’s existing investors also participated.
IMM PE invests $190m in Korean cable TV operator T-Broad
IMM Private Equity has acquired an approximately 21% stake in T-Broad Holdings, South Korea’s second-largest cable operator by subscriber numbers, for KRW200 billion ($190 million).
Eastern Link raises $330m RMB fund
Eastern Link Capital, a China-focused private equity firm set up by ex-IDG Capital Partners and GF Securities professionals, has closed its second renminbi-denominated fund at RMB2 billion ($330 million).
Global PE fundraising reaches $431b in 2013 – Preqin
Private equity firms raised $431 billion globally in 2013, up 13% on 2012 levels, largely thanks to robust activity in North America and Europe. It is the highest amount in any year since the global financial crisis.
Baring Asia to exit Noah Education as MSPEA makes take-private offer
Baring Private Equity Asia is on course to exit Noah Education Holdings after Morgan Stanley Private Equity Asia (MSPEA) and senior management tabled a take-private bid that values the company at around $108 million. This is MSPEA’s second privatization...
CITIC PE leads Series C for China taxi booking app - report
CITIC Private Equity has reportedly led a Series C round of funding worth up to $100 million for Didi Dache, a Chinese taxi booking app. Existing investor Tencent is also among the participants.