Articles by Tim Burroughs
China cross-border deals: Inside out and outside in
Many mid-cap Western companies want to boost their China exposure, but lack the resources to address the market properly. Some – but not all – PE firms are able to pick apart broken strategies and build them anew
Creador closes Fund I, eyes Fund II
With his first fund days away from a final close, Creador CEO Brahmal Vasudevan is already thinking about a successor vehicle. This is because Creador I, which focuses on India, Malaysia and Indonesia, is on course to be more than two-thirds deployed...
LP interview: Japan's Government Pension Investment Fund
Japan’s Government Pension Investment Fund (GPIF) is considering the addition of alternative investments to its portfolio. It must find a balance between conservatism and the need for higher returns
Apollo Hospitals founder interested in Apax stake
Apax Partners is preparing to exit Indian healthcare chain Apollo Hospitals, with Prathap C. Reddy, the company’s founder and chairman, open to buying part of the stake.
Australia’s IFM takes stake in UK airport operator
Industry Funds Management (IFM), an investment firm owned by 30 Australian superannuation funds, has acquired a 35.5% stake in Manchester Airports Group (MAG) as part of the UK airport operator’s GBP1.5 billion ($2.4 billion) acquisition of London Stansted...
Saratoga Capital expected to pursue IPO in 2013
Indonesian GP Saratoga Capital is expected to launch an IPO in mid-2013. Saratoga Investama Sedaya, the private equity unit of Saratoga Group, has more than $2 billion in assets under management.
Australia’s Anacacia in healthcare MBO
Anacacia Capital has acquired Hills Healthcare Equipment from its Australian Securities Exchange-listed parent Hills Holdings through a management buyout. The value of the transaction was not disclosed.
Global PE fundraising reaches $315b for 2012 – Preqin
Global private equity fundraising reached $315.4 billion in 2012, up slightly on $311.7 billion the previous year, but the number of vehicles reaching a close fell sharply to 698 from 910, according to Preqin. This sense of a flight to quality – something...
Century Bridge hires ex-PwC assurance executive
Century Bridge Capital has appointed Michael Yan as a director, tasked with providing strategic guidance on asset management and growth strategies. He was previously a senior manager in PricewaterhouseCoopers’ (PwC) assurance division.
Temasek not interested in Silver Lake’s Dell deal – report
Temasek Holdings is apparently not interested in joining a Silver Lake-led consortium that is looking to privatize Dell. Media reports have claimed that the Singapore sovereign wealth fund is one of a number of potential investment partners Silver Lake...
RRJ to invest in Olam International – report
RRJ Capital has reportedly agreed to invest in Olam International, the commodities supplier that recently came under attack from short-seller research firm Muddy Waters. Olam, which has seen its stock slide about 18% since the allegations were first made...
KKR boosts Asia business by offering outbound deal access
Building relationships and generating deal flow in Asia doesn’t necessarily involve starting in Asia, according to Joe Bae, regional head of KKR. The private equity firm has made inroads in Japan, South Korea and China by providing local partners with...
Profile: KV Asia's Karam Butalia
Karam Butalia, executive chairman of KV Asia Capital, cut his teeth in private equity with Citicorp, set up Standard Chartered’s PE unit, and is now building his own Southeast Asia mid-market buyout shop
KKR shows its conviction in Masan
KKR has doubled down on the Vietnam consumer story. Following a $159 million commitment to Masan Consumer Corp. (Masan) in April 2011, the largest investment in the country from a private equity fund, KKR broke its own record last week by injecting a...
Carlyle exits China Pacific with $4b profit
As a private equity investment, China Pacific Insurance stood out from the beginning. When The Carlyle Group paid approximately $400 million for a 24.98% stake in the firm’s life insurance subsidiary in 2005, it was comfortably the largest PE deal in...
4Q analysis: End-of-year blues
Direct investors stand out as those around them fade; the fundraising climate continues to weaken; a few bright spots in the IPO market
IPOs, and other China exits
Hony Capital was responsible for one of the more unusual transactions of the holiday period. The private equity firm provided the cash option for shareholders who didn’t want to participate in China International Marine Containers’ conversion of its...
AVCJ 25th anniversary special edition goes online
A special edition of AVCJ, released at the 2012 AVCJ Forum to mark the group’s 25th anniversary, is now available for download. The publication features interviews with representatives from leading private equity and venture capital firms who have played...
Advantage Partners sells Komeda coffee shop chain to MBK
Advantage Partners has agreed to sell its controlling stake in Japanese coffee shop chain Komeda to MBK Partners.
Jack Ma’s retirement as Alibaba CEO fuels IPO speculation
Jack Ma will step down as CEO of Alibaba Group in May ahead of the private equity-backed firm’s widely anticipated IPO. Ma, who will remain as chairman indicated that he wanted to hand over to a younger successor, telling employees that “the next...
Mayfield launches second India fund
Mayfield has launched its second India fund, according to a US regulatory filing. No details were given on the target size. The GP closed its first India-focused vehicle in 2008 on $115 million, with a remit to invest in the consumer, infrastructure and...
Creador reaches $132m final close on debut fund
Creador, a Southeast Asia and India-focused private equity firm, has reached a final close of $132 million for its debut fund. This comes after a first close of $100 million in late 2011. Creador already has plans to launch a second fund in 2013.
Massachusetts pension fund appoints PE head
The Massachusetts Pension Reserves Investment Board (MassPRIM) has appointed Michael Bailey as senior investment officer and director of private equity. The post was previously held by Wayne Smith, who departed in July 2011.
Ironbridge sells NZ-based EnviroWaste to Cheung Kong Infrastructure
Ironbridge Capital has agreed to sell EnviroWaste, New Zealand’s second-largest waste services business, to Hong Kong’s Cheung Kong Infrastructure Holdings for NZ$490 million ($412 million). The Australian private equity firm acquired EnviroWaste...