Articles by Tim Burroughs
Indonesia’s Capsquare achieves first close on debut fund
Indonesian GP Capsquare Asia Partners has reached a first close on its debut fund, having raised three-quarters of the capital required to meet its $75 million full target. A final close is expected in the fourth quarter of 2012, perhaps as soon as late...
Colonial First State buys TDF’s broadcasting assets in Finland
Colonial First State, an Australian wealth manager owned by Commonwealth Bank of Australia, has agreed to buy French broadcasting group TDF’s Finland business. The company, known as Digita, owns Finland’s largest broadcast tower network as well as...
Apollo launches two Asia real estate funds
Apollo Global Management has launched two funds that will invest in commercial real estate in Asia, seeking up to $750 million in capital. It comes barely three months after the private equity firm disclosed that it has raised about $255 million for an...
General Atlantic denies Snapdeal interest - report
General Atlantic says it never entered into talks with Snapdeal in what would have been the private equity firm’s first foray into Indian e-commerce.
CHAMP Ventures takes majority stake in Ansett Aviation Centre
CHAMP Ventures has taken a majority interest in Ansett Aviation Centre, a training facility bought from administrators in 2004 following the collapse of Ansett Australia, the country’s second-largest carrier. It is the third investment out of CHAMP...
PE firms target ING’s Asian insurance assets – report
ING is said to be in talks with several parties, including Apollo Global Management, J.C. Flowers & Co. and a team backed by The Blackstone Group, over the sale of different parts of its Asian life insurance operations. The initial plan was to divest...
Silk Road Finance enters Myanmar
Frontier markets-focused investment bank Silk Road Finance has set up a Myanmar subsidiary and won a mandate to raise a private equity and venture capital fund dedicated to investing in the country.
KKR hires Akhil Puri for India Capstone team
KKR has hired Akhil Puri from TPG Capital as a director for its Capstone unit. He will lead the private equity firm’s engagement with its portfolio companies in India. Capstone’s current assignments in the country include Dalmia Cement and supporting...
PE firms bid for Korean weapons manufacturer – report
Four private equity firms and a European defense company have reportedly submitted bids for a stake in South Korea’s LIG Nex1. The weapons manufacturer is offloading a 49% interest worth around $440 million.
Woori launches $495m PE fund with Posco, EIG
Korea’s Woori Asset Management has launched a private equity fund in partnership with domestic steelmaker Posco and US-based EIG Global Energy Partners. The vehicle was created in February and has a target size of KRW560 billion ($495 million), with...
L Capital backs Indian cinema operator PVR
L Capital, the private equity arm of luxury group LVMH, will invest just under INR1.1 billion ($19.4 million) in cinema and entertainment company PVR for a 10% stake. As part of the deal, L Capital will set up a joint venture with the Indian firm that...
Australia’s Gresham PE in $180m Witchery Group exit
Gresham Private Equity has agreed to sell fashion retailer Witchery Group to Country Road for A$172 million ($180.2 million). The deal will see Witchery CEO Ian Nairn replace Howard Goldberg as head of Country Road, which is majority-owned by South Africa’s...
GIC boosts cash exposure, warns of global volatility
Government of Singapore Investment Corp’s (GIC) exposure to alternative assets remained unchanged during the year ended March 2012 as cash reserves rose steeply at the expense of fixed income and developed market public equities holdings.
General Atlantic nears Snapdeal investment – report
General Atlantic is reportedly closing in an investment in online retailer Snapdeal, which would represent its first foray into Indian e-commerce. The private equity firm will participate in a round of funding worth $80-100 million.
Entrepreneurs launch Korea start-up accelerator
A group of South Korean serial entrepreneurs has launched a start-up accelerator intended to connect domestic companies with their global counterparts. Advisors and mentors to the program include US tech entrepreneur and Dallas Mavericks owner Mark Cuban...
Asia fundraising: A box-checking exercise
Was I surprised last week to find out that FountainVest Partners had accumulated more than 80% of the capital targeted for its second China fund after less than five months on the road? Not particularly. In a difficult fundraising environment, this particular...
TPG in rare China leveraged buyout
TPG Capital's full acquisition of packaging firm HCP Holdings, worth approximately $500 million, has a strong claim to be the largest ever leveraged buyout of a Chinese company. This is notoriously difficult territory for dealmakers and PE statisticians...
CVC, SCPE generate quick return on Infastech
A swift trade sale exit was always likely for Asia-based fastener manufacturer Infastech. Not long after CVC Capital Partners and Standard Chartered Private Equity (SCPE) acquired the asset in 2010, strategic investors started showing an interest.
LPs endorse Kerogen’s Asia energy strategy
Barely 48 hours before Kerogen Capital announced a final close of just over $1 billion for its debut fund, the PE firm received two endorsements of its investment thesis. First, CNOOC agreed to buy Canadian oil and gas major Nexen for $15.1 billion plus...
Warburg Pincus backs Chinese children’s goods retailer
Warburg Pincus has invested $55 million in Chinese maternity and children’s goods retailer Kidswant. The capital will be used to increase store numbers and boost the company’s growth plans.
Macquarie raises $625m for Philippines’ first infra fund
Macquarie Group has announced a first and final close on $625 million for its Philippine Investment Alliance for Infrastructure (PINAI). It is the first-ever Philippines-dedicated infrastructure fund.
Korea’s Woongjin, KTB Private Equity in $1b Coway deal
KTB Private Equity, an affiliate of South Korean financial services company KTB Investment & Securities, will team up with Woongjin Holdings to buy a 31% stake in water purifier manufacturer Coway for KRW1.2 trillion ($1 billion). The target company is...
Navis exits Indonesia education business to Pearson
Navis Capital Partners has exited the Indonesian arm of English-language education business Wall Street Institute (WSI) to Pearson. The global publishing and education company is paying $16.3 million for the asset, which represents a 10x return for Navis.
Korea’s Woori sale fails yet again as no bidders materialize
The South Korean government’s latest attempt to exit its controlling stake in Woori Finance Holdings has failed after no one submitted a preliminary bid. The country’s financial regulator subsequently said “it would be difficult to mount another...