Articles by Tim Burroughs
IFC to anchor Fosun Pharma’s Hong Kong IPO
International Finance Corporation (IFC), the investment arm of the World Bank, is expected to anchor Shanghai Fosun Pharmaceutical’s Hong Kong IPO alongside Prudential Financial. The total cornerstone commitment is $75 million out of a targeted $600...
Australia’s Kaz Capital to launch venture fund
Australian boutique financial advisor Kaz Capital is planning a venture fund that will support small- and medium-sized enterprises (SMEs) in need of expansion capital. The company claims to have received conditional regulatory approval to establish an...
China Private Equity restructures Australia securities platform investment
China Private Equity Investment Holdings (CPE), an AIM-listed vehicle that claims to offer European investors exposure to Chinese private equity without the limitations imposed by closed-end funds, has restructured its investment in Australian online...
TPG, Affinity-backed UTAC seeks to refinance debt – report
United Test & Assembly Center (UTAC), the Singapore precision engineering firm owned by TPG Capital and Affinity Equity Partners, is said to be seeking to refinance a portion of its debt through a $600 million bond issue.
PE consortium in $330m take-private bid for China's Yongye
Morgan Stanley Private Equity Asia (MSPEA) and Abax Global Capital are backing a $330 million bid by the chairman of Yongye International to take private the US-listed Chinese animal and plant feed maker.
Japan’s J-Star sees 3x return on Apo Plus Station
Mid-market Japanese GP J-Star has sold its majority stake in the pharma-focused contract sales company Apo Plus Station (APS) to Qol, a Tokyo-based pharmaceutical firm.
Shares in Baring-backed Courts up 7.1% following IPO
Shares in Baring Private Equity Asia (BPEA) portfolio company Courts Asia rose by more than 7% following its Singapore IPO last Monday.
Panorama leads Series D round for Skyfire’s Asia expansion
Panorama Capital has led a $10 million Series D round of funding for Skyfire, intended help the mobile video optimization and cloud solutions company expand in Asia.
CITIC Securities targets up to $1.6b for RMB fund
CITIC Securities is targeting RMB5-10 billion ($798 million to $1.6 billion) for its first private equity fund, most of which will come from Chinese institutions, including government agencies. The vehicle will buy stakes in companies involved in M&A...
INCJ-led consortium to complete $2.5b Renesas rescue - report
A consortium led by Innovation Network Corporation of Japan (INCJ) is said to be nearing a JPY200 billion ($2.55 billion) deal to buy ailing Japanese chipmaker Renesas Electronic Corp.
Affinity completes debut Indonesia deal
Affinity Equity Partners has completed its first Indonesian investment, securing a significant minority stake in local auto services group Mitra Pinasthika Mustika (MPM) for about $100 million.
White & Case appoints three new partners in Asia
White & Case has appointed three new partners in Asia, including Jonathan Olier, a member of the law firm's M&A practice in Singapore. He specializes in private equity buyouts and restructurings as well as cross-border mergers and acquisitions.
Standard Chartered commits $35m to India’s Prime Focus
Standard Chartered Private Equity (SCPE) has agreed to invest $35 million in Prime Focus, an Indian company that provides creative and technical services to the film, broadcast, advertising and media industries.
TPG abandons Billabong buyout
TPG Capital has withdrawn its A$694 million ($709 million) buyout offer for Billabong, sending the Australian surfwear company’s stock plunging more than 16%. The announcement comes days after Billabong insisted that negotiations were continuing despite...
Hong Kong’s Chevalier targets Catalyst-backed Moraitis – report
Hong Kong-listed Chevalier International is said to be in exclusive talks regarding an investment in Australia’s Moraitis, a fruit and vegetable wholesaler backed by Catalyst Investment Managers.
Partners VC buys stake in Korea’s Panax Etec
Partners Venture Capital has purchased a 10% stake in Panax Etec, a South Korean battery electrolyte manufacturer, for KRW10 billion ($9 million). The investment facilitates the partial exit of Samsung Venture Investment and Bokwang Investment.
IFC to deploy up to $600m in Indonesia next year
International Finance Corporation (IFC), the investment arm of the World Bank, plans to deploy $400-600 million in Indonesia during the 2013 fiscal year, having committed $300 million to eight projects in 2012.
CVC-backed Nine makes new restructuring proposal
The management of Nine Entertainment, the beleaguered Australian media company owned by CVC Capital Partners, has put forward a new proposal for restructuring its A$3.8 billion ($3.9 billion) in debt. Adrian McKenzie, CVC’s Australian managing partner...
Baker & McKenzie names new PE chair, confirms McNamara departure
Baker & McKenzie has appointed Simon Hughes as chair of its global private equity group, in place of Sydney-based Mark McNamara. A spokesperson for Baker & McKenzie also confirmed that McNamara is leaving the firm.
Asian PE fundraising slips in 3Q as RMB vehicles struggle
Asian private equity fundraising reached $10.8 billion in the third quarter of 2012, continuing a downward trend that stretches back 12 months, according to provisional data from AVCJ Research. Renminbi-denominated fundraising experienced the most acute...
Longreach eyes corporate carve-outs
After more than 800 days in the market, Longreach Capital Partners 2 reached a final close on September 30. It has been a challenging process that required the target corpus to be scaled back from $750 million to $400 million – but the fund is also...
Actis supports Sri Lanka hospital consolidation
For Asiri Hospital Holdings (AHH) in Sri Lanka, read India’s Sterling Hospitals in India. Actis, which has acquired a $32 million equity stake in the Sri Lankan healthcare operator, found itself looking at a similar market dynamic when it first invested...
3Q analysis: The bottom falls out of RMB fundraising
China US dollar funds attract more capital than renminbi vehicles; trade sales and secondary buyouts continue to gather pace; positive early signs for China buyouts
The revolving door: Chinese LPs and talent retention
Employing people in China, especially at junior level, is an illuminating experience. Job notices provoke a barrage of resumes crammed with work experience. After the customary 30-second scan, you are forced to blink and re-read, asking yourself, “How...