Articles by Tim Burroughs
Asia Awards: Firm of the Year - KKR
KKR closed its second pan-Asia fund at $6 billion and announced investments of $1.8 billion and distributions of $1.2 billion for the year to September. Capstone, the firm’s operating unit, was a factor in each area
Cautious optimism in Taiwan
“We have prepared a statement if you want it.” Within minutes of a panel concluding at the AVCJ Taiwan Forum in September, a piece of paper landed in my lap from the American Chamber of Commerce In Taipei’s (AmCham) private equity committee, which...
Crescent-owned travel insurer to raise $475m in Australia IPO
Crescent Capital Partners-owned travel insurer Cover-More Group is targeting a A$521.2 million ($475 million) IPO on the Australian Securities Exchange.
MBK consortium bids for Woori NPL unit - report
MBK Partners is said to have teamed up with BS Financial Group to place a final bid for Woori Finance Holdings’ non-performing loans business. This is the second part of a three-phase auction intended to finally dispose of the Korean government’s...
Taiwan proposes changes to M&A regulations
Taiwan’s cabinet has approved the first amendments to the territory’s Business Mergers and Acquisitions Act in nearly a decade, including a provision that raises the level of shareholder support required for a take-private transaction to go through....
MBK Partners sells Japan-based Invoice to Lone Star
MBK Partners has fully exited Invoice, Japan’s largest telecom bill aggregation service provider, to Lone Star Funds. The sale price was not disclosed but sources close to the deal said the North Asia-focused private equity firm had generated a 2.5x...
Orchid Asia-backed Autohome sets terms for $126m US IPO
Autohome, a Chinese online automobile marketplace in which Orchid Asia is an investor, plans to raise up to $125.9 million through an IPO on the New York Stock Exchange. The private equity firm will not be exiting any shares through the offering.
AMP buys Australia schools project from RBS
AMP Capital will acquire a 100% interest in a portfolio of school buildings in Melbourne from Royal Bank of Scotland (RBS). The purchase is being made via the AMP Capital Community Infrastructure Fund, which invests in public-private partnership-style...
VIDEO: Gulpreet Kohli of ChrysCapital Partners
India is becoming more attractive for private equity investors as the capital overhang created by the fundraising boom of the previous vintage eases, reducing competition for deals, says Gulpreet Kohli, managing director at ChrysCapital Partners
AVCJ journalists win awards
Asian Venture Capital Journal was honored at the 2013 State Street Institutional Press Awards, Asia Pacific, winning two categories outright and receiving highly commended citations in two more.
KKR to invest $200m in Indian drug maker Gland Pharma
KKR has agreed to buy a minority stake in Gland Pharma, an Indian injectable drugs manufacturer, for approximately $200 million. The investment facilitates the exit of Invascent Capital's Evolvence India Life Sciences Fund (EILSF).
Northern Light backs Chinese analytics provider TalkingData
Northern Light Venture Capital has provided $10 million in Series A funding to TalkingData, a Chinese mobile data analytics provider. The company plans to use the new capital to enhance its product offerings in mobile gaming, advertising, e-commerce and...
Q&A: Milestone Capital Advisors' Rubi Arya
The sudden death of Ved Prakash Arya in 2011 left Milestone Capital Advisors without a founder and figurehead. His widow, Rubi Arya, took up the reins. She tells AVCJ how the business is moving forward
India fundraising: Uphill battle
Investor sentiment on India is weak, with LPs wary of re-upping with PE firms that have yet to prove their ability to return capital. But as underperformers drop away, life could be all the sweeter for the survivors
Baring Asia backs $2.8b Giant Interactive take-private
Baring Private Equity Asia is supporting a management buyout of Chinese online game developer Giant Interactive Group that values the New York Stock Exchange-listed company at approximately $2.8 billion. If the deal goes through it would be the second-largest...
Oaktree, China Cinda form distressed assets JV
Oaktree Capital Group has entered into a joint venture with China Cinda Asset Management Corp. that will see the two groups invest in distressed assets in China. Cinda was originally set up to absorb non-performing loans (NPLs) from China’s Big Four...
Norway fund, Oaktree among anchors for China Cinda IPO
Norway’s sovereign wealth fund and Oaktree Capital Management are two of 10 cornerstone investors that will cover up to 44% of China Cinda Asset Management Corp’s IPO. The company, originally set up to absorb non-performing loans (NPLs) from China’s...
Providence-owned Study Group buys Australian college
Study Group, an education services provider owned by Providence Equity Partners, has acquired ANU College from Australian National University. Financial details were not disclosed.
BNRI agrees tie-up with China resources advisory firm
Barclays’ global resources-focused PE platform, Barclays Natural Resource Investments (BNRI), has formed a strategic partnership with Beijing-based corporate advisory firm Ilex Partners to develop its business in mainland China.
PE-backed China Cinda to raise $2.5b in Hong Kong IPO - report
PE-backed China Cinda Asset Management Corp, one of four groups set up to absorb non-performing loans (NPLs) from the country’s Big Four state-owned banks, is expected to raise up to $2.5 billion in its Hong Kong IPO.
DFJ consolidates China operations
Draper Fisher Jurvetson’s (DFJ) Shanghai office will close as the firm consolidates its operations in China. Existing portfolio companies will continue to receive support and Hope Chen remains a managing director responsible for overseeing China investments,...
Exhilway closes $200m mines and minerals fund, targets Indonesia
Exhilway Global, a US-based hedge fund and emerging markets private equity manager, has closed its maiden mines and minerals PE fund at $200 million. The vehicle will acquire and operate mines in alliance with local companies in Indonesia, as well as...
Australian Tax Office warns foreign investors on compliance
The Australian Taxation Office (ATO) has written to 130 private equity firms offering to “assist with their compliance” as it scrutinizes the pipeline of upcoming IPOs to ensure foreign investors don’t avoid paying local tax.
Australia's HighPoint Capital invests in Brand New Media
HighPoint Capital has acquired a significant minority shareholding in Brand New Media (BNM), a Sydney-headquartered business that runs digital channels for brands and broadcasters. Its partners include Seven West Media in Australia, New Zealand’s national...