Articles by Tim Burroughs
Kaizen commits $4.5m to Indian school management firm
Kaizen Private Equity has invested INR250 million ($4.5 million) for a minority stake in Altus Learning, an Indian school management firm. The funding will be used to help the Gujarat-based operator expand in northern India.
IFC, Mount Kellett back India’s Jain Irrigation Systems
International Finance Corporation (IFC) and Mount Kellett Capital Management are part of a group that has agreed to invest around INR11 billion ($200 million) in Jain Irrigation Systems. The company, which manufactures drip and sprinkler systems as well...
Rival PE firm matches TPG’s $709m Billabong offer
A rival private equity firm – reportedly Bain Capital – has offered to match TPG Capital’s A$694 million ($709 million) buyout bid for Australian surfwear company Billabong International. The Billabong board maintains that neither offer reflects...
CVC’s Nine sells magazine unit to service debts
CVC Capital Partners-owned Nine Entertainment has sold its ACP Magazines division to German publisher Bauer for A$500 million ($510 million). The proceeds will go towards paying down some of the Australian media company’s debt, with a senior tranche...
UPDATE: PE group invests another $150m in Zhaoheng Hydropower
Morgan Stanley Infrastructure Partners, Fountainvest Partners and Olympus Capital have together invested $150 million in Shenzhen-based Zhaoheng Hydropower, matching a commitment they made two years ago. The total consideration is said to be the largest...
Q&A: Globis Capital Partners' Shinichi Takamiya
Shinichi Takamiya, a partner at Japanese VC firm Globis Capital Partners, discusses the prospects for domestic start-ups and how venture investment in Japan stacks up against global counterparts
Japan GP outlook: Mixed feelings in the middle ground
Japan’s mid-market is opening up as weak public market valuations facilitate take-private deals, corporations divest non-core assets and aging founders seek an exit. GPs have plenty to aim at, provided they can raise funds
KT, NPS, Korea Post set up outbound M&A fund
Korean telecom giant KT Corporation has teamed up with the National Pension Fund (NPS) and Korea Post to form a KRW1 trillion ($883 billion) fund that will make acquisitions overseas. It is the latest of several initiatives launched by Korean corporations...
Murdoch fund takes full ownership of DMG Radio Australia
Illyria, a private investment vehicle run by Lachlan Murdoch, son of media tycoon Rupert Murdoch, has taken full ownership of DMG Radio Australia after acquiring the 50% it didn’t already own from UK-based media company Daily Mail and General Trust...
Private equity tax strategies probed by US authorities
A host of leading private equity firms has been subpoenaed by the New York attorney general as part of an investigation into whether they have engaged in tax evasion strategies.
CIC trims financials exposure with partial exit from BlackRock
China Investment Corporation (CIC) has exited most of its holding in asset manager BlackRock as part of a wider effort to reduce its exposure to international financial institutions.
Japan’s J-Star exits Iki Iki to Noritsu Koki Group
J-Star, the mid-market Japanese GP, has exited lifestyle marketing company Iki Iki to a subsidiary of Noritsu Koki Group. The transaction is expected to close on September 7.
VIDEO: Lunar Capital's Derek Sulger
The private equity landscape in China is broadening and this will see a wider variety of deals, including more control transactions, says Derek Sulger, managing partner at Lunar Capital
India’s Kalyani Group to sell wind energy stake to PE – report
The Kalyani Group, the Indian industrial conglomerate, is reportedly in talks with private equity firms to sell a stake in its wind energy business, Kenersys. In addition to diluting Kalyani’s controlling interest, the deal would allow the partial exit...
Thailand eases licensing rules for private equity firms
Thailand’s Securities and Exchange Commission (SEC) has abolished rules requiring private equity and venture capital firms to apply for securities licenses. The move is intended to make it easier to set up funds, thereby facilitating investment into...
Russia’s VTB Capital appoints Indonesia head
VTB Capital, the investment advisory arm of Russian financial services major VTB Group, has appointed Roger Suyama as head of Indonesia operations. This is part of the firm’s wider strategy to strengthen its presence in Asia Pacific and it comes as...
Crescent wins investor support after raising ClearView offer
Crescent Capital Partners has improved its buyout offer for Australian financial services provider ClearView Wealth, winning the support of leading shareholder Guinness Peat Group (GPG). The private equity firm is now offering A$0.55 per share, up from...
China portfolio management: Accounting on the wild side
As private equity firms pay more attention to financial management and value-add in Chinese portfolio companies, recruiting a CFO with the right blend of skills and experience is vital – but difficult
Nominations open for the 2012 AVCJ Awards
Will it be Hony Capital Fund V, which closed at $2.4 billion in January 2012, becoming China’s largest US dollar-denominated vehicle in four years? The Chinese GP spent barely four months in the market, exceeding its previous vehicle by more than $1...
India Value Advisors to invest $179m in Manipal Hospitals
India Value Advisors (IVFA) will commit about INR10 billion ($179 million) to Manipal Hospitals over a three-year period, enabling the healthcare provider to more than double its hospital bed capacity. Part of this increase will come through acquisitions.
Hogan Lovells boosts Singapore banking practice
Hogan Lovells has hired Alexander McMyn as a banking partner in Singapore, as part of the law firm’s ongoing efforts to strengthen its finance capabilities in Southeast Asia. McMyn previously worked at Linklaters in Singapore, having relocated from...
Have your say in the 2012 AVCJ Awards
Last year Archer Capital scooped the prize for Firm of the Year, Baring Private Equity Asia was honored for its fund raise, and Affinity Equity Partners and Unitas Capital won plaudits for best exit. Unitas also claimed the prize for PE Deal of the Year,...
Cerberus-backed Aozora unveils plan to repay bailout cash
Aozora Bank, the Japanese lender in which Cerberus Capital holds a large stake, has pledged to repay JPY227.6 billion ($2.9 billion) in bailout money received during Japan’s financial crisis. The sum will be repaid over a 10-year period ending before...
Buyout firms progress in Indonesia healthcare auction - report
The Blackstone Group, Bain Capital, KKR and Abraaj Capital are said to have made it through to the second round of the auction process for a 20% stake in Siloam, Indonesia’s biggest private hospital firm. The deal is expected to be worth up to $300...