Articles by Tim Burroughs
Indonesia fundraising: Reality check
Few Indonesia-focused GPs that sprung up in recent years have made headway. It points to a still immature local market and recognition amongst LPs that they can get exposure to the country in other ways
Temasek commits $24m to Indian oncology chain
Temasek Holdings has invested INR1.3 billion ($24 million) in Indian cancer care hospital chain Healthcare Global Enterprises (HCG). The deal facilitates the exit of Evolvence India Life Sciences Fund, a vehicle managed by Invascent Capital.
Mercer restructures Asia investments team
Mercer has shuffled its Asia investments team following the creation of a new growth markets region, including Asia, the Middle East, Africa and Latin America.
Fung Capital to invest in JV with India’s Future Group
Fung Capital, the private equity arm of the family owners of Li & Fung Group, will invest in a wholesale joint venture with India’s Future Group. Fung Capital is expected to hold at least a 26% stake in the venture with Kishore Biyani and his family,...
Hony supports $505m take-private of Simcere Pharmaceutical
Hony Capital is backing a $505 million management buyout of Chinese drug developer Simcere Pharmaceutical Group. It takes the number of take-private deals involving US-listed Chinese companies to 13, according to AVCJ Research.
CVC-backed Matahari launches $1.3b offering
CVC Capital Partners and its local partner are seeking up to $1.36 billion through a partial exit from Indonesian retailer Matahari Department Store. The deal values Matahari at $3.4 billion, which means the private equity firm stands to make a substantial...
TPG buys Australian poultry producer Inghams
TPG Capital overcame several rival private equity and strategic bidders to acquire Australian poultry firm Inghams Enterprises. The family-owned company didn’t confirm the financial details, although it has been reported that the deal valued Inghams...
Affinity reaches $1.5b first close on Fund IV
Affinity Equity Partners has reached a first close of $1.5 billion on its fourth fund, having spent only about five months in the market. The vehicle has a hard cap of $3.5 billion.
Australasian mid-market sees strong deal flow – AVCJ Forum
Private equity investors see considerable upside in Australia and New Zealand’s lower and mid-market despite fewer large deals than before the global financial crisis. This usually involves taking cash-strapped family-run businesses and improving processes...
Texas County & District, Oregon commit to CDH Fund V
CDH has secured commitments for its fifth fund from both Texas County & District Retirement System (TCDRS) and Oregon Investment Council. The US pension funds have agreed to invest $50 million and $75 million, respectively, in the vehicle, which launched...
Anacacia set for 5x return on Home Appliances investment
Anacacia Capital has agreed to sell its controlling stake in Australian cooking products supplier Home Appliances to McPherson’s for A$22 million. The private equity firm is expected to secure a 5x money multiple and an IRR of more than 90% once the...
New York State Common backs RRJ Capital
New York State Common Retirement Fund (NYSCRF) has committed $300 million to RRJ Capital, the Hong Kong-based GP set up by Richard Ong, formerly of Goldman Sachs and Hopu Investment Management.
PE firms eye larger Australia deals - AVCJ Forum
Private equity investors expect to see more large-cap deals in Australia as the liquidity boom in the US provides increased capacity for debt financing.
China secondaries: When push comes to shove
China GPs are under pressure to return cash to investors but IPO exits are challenging. Secondary sales are emerging as an option. Who best placed to deliver on the US dollar and renminbi sides?
Hunting the lion city
When John Tsang, Hong Kong’s financial secretary, extended the private equity industry a significant tax incentive in last week’s budget, it was presented in the wider context of encouraging more funds to domicile in the territory. In some quarters,...
Australia webinar: Consistency matters
Australia's private equity industry has seen robust deal flow in recent years and LPs remain committed to the asset class, albeit to a fewer number of GPs. Industry participants expect this to continue
PE-backed Blue Star entities pick up assets from Geon
Blue Star’s Australia and New Zealand entities, which are now run by two separate private equity-backed management groups, have agreed to buy assets from struggling rival printing company Geon.
Australian firms tap US high-yield market for record sums
Australian companies have raised a record $6.2 billion in high-yield debt via the US markets in the last five months. This includes about $700 million in Term Loan B financing obtained by hedge funds Apollo Global Management and Oaktree Management to...
KPCB, IDG-Accel invest $10m in China's EntreMed
KPCB China and IDG-Accel China have agreed to invest $10.7 million in EntreMed, a clinical-stage pharma company that develops drugs in the US and China for global release.
Blue Sky makes two hires, opens Sydney office
Australia’s Blue Sky Alternative Investments has hired two executives with corporate finance private equity backgrounds to run its operations in Sydney and Adelaide.
Morgan Stanley to complete $147m China dairy take-private
Morgan Stanley Private Equity Asia (MSPEA) is on the cusp of completing a $147 million buyout of Chinese dairy producer Feihe International after the board accepted a bid from the PE firm in conjunction with the company’s chairman and CEO. It is the...
Share your views on Indonesian PE in AVCJ's online poll
Indonesia has emerged as one of Asia’s most popular PE markets with global and regional firms looking to put more people on the ground in search of deals while a host of fledgling domestic GPs have hit the fundraising trail. Today we ask AVCJ readers...
CapitalAsia backs Canadian copper miner
CapitalAsia has agreed to invest $1.2 million in Toronto-listed copper miner Cadillac Ventures via the Sino-Canada Natural Resources Fund.
No date set for resuming China IPO approvals – CSRC
The China Securities Regulatory Commission (CSRC) has yet to set a timetable for resuming IPO approvals, scotching rumors that it would start pushing through new candidates in April, an official from the securities watchdog told Xinhua news agency.