Articles by Tim Burroughs
India’s Komli raises $39m from VCs in Series D round
Norwest Venture Partners has led a $39 million round of funding for Komli Media, India’s largest advertising-focused media technology company. Existing investors Nexus Venture Partners, Helion Venture Partners and Draper Fisher Jurvetson also participated,...
Qantas appoints Macquarie to defend against PE bids
Qantas Airways has hired Macquarie Group to set up an internal team “to advise on the defense against potential private equity bids,” a company spokesman has confirmed. The news prompted an 11% spike in the airline’s share price to A$1.08 during...
VIDEO: Creador's Brahmal Vasudevan
Brahmal Vasudevan first wanted to invest in Indonesia six years ago when he was with India-focused GP ChrysCapital. Now, as CEO of Creador, the private equity firm he set up last year, Vasudevan has his wish. Creador is seeking to raise around $350 million...
Ex-Apax India head to join Carlyle – report
Neeraj Bharadwaj, former India head of Apax Partners, is tipped to become The Carlyle Group’s newest managing director. The appointment would fill a vacancy created last year by the departure of Rajeev Gupta, head of the private equity firm’s India...
Temasek names Promeet Ghosh India MD
Temasek Holdings has appointed Promeet Ghosh as its first managing director level appointment in India. He will report to Singapore-based Rohit Sipahimalani and Lee Then Kiat who share responsibility for investments in the country.
Vermont state pension funds commit $75m to HarbourVest
A HarbourVest Partners fund targeting Europe, Asia and emerging markets has received a $10 million commitment from the Vermont Pension Investment Committee (VPIC). It is part of a $75 million investment by the committee, which represents pension funds...
CIC loses two more executives
China Investment Corp. (CIC), the $400 billion sovereign wealth fund, continues to see team volatility with the resignation of two more executives in recent weeks.
Hony, KKR scoop major prizes at AVCJ China Awards
Hony Capital led the way at the 2012 AVCJ Private Equity & Venture Capital Awards China, retaining its title as Firm of the Year and claiming the prize for US dollar fundraising. David Liu, China head of KKR, was named Private Equity Professional of the...
Lone Star to pursue arbitration over KEB exit
Lone Star Funds plans to initiate arbitration proceedings against the South Korean government regarding its $3.5 billion exit of Korea Exchange Bank (KEB) to Hana Financial. The US private equity firm claims the government interfered with its rights as...
Actis loses Southeast Asia head
Gary Addison, head of Actis’ Singapore office, has reportedly resigned after four-and-a-half years with the firm. Formerly a partner with 3i Group in London, he moved to Singapore in 2009 to lead Actis’ Southeast Asia operations, replacing Alun Branigan.
Fairbridge buys Thomas Cook India for $150m
Thomas Cook has now sold its India business twice in the space of six years. The asset was first offloaded to Dubai Financial in 2005 as a package deal including licenses to operate the brand in the Middle East, as Thomas Cook divested non-core assets...
Energy investing: Keeping Asia’s lights on
North American PE firms have become established oil and gas investors. Asian GPs are only just coming around to the idea, but the long-term potential is huge – provided you hire the right management
Regional funds and global LPs
One week out of every month, a certain Asia-based fund manager embarks on a trip that takes in three board meetings in three different countries. At each hotel, a packet of documents awaits, which must be reviewed before each meeting. Once he returns...
Reliance Capital backs kitchen appliance manufacturer
Reliance Capital has acquired a 13.71% stake in Butterfly Gandhimathi Appliances for INR1 billion ($18 million) via its Reliance Alternative Investments Fund.
Australia’s NAB pulls out of private equity
National Australia Bank (NAB) is winding down its private equity unit a matter of months after the division suffered an A$25 million write-down on its investment in electronics retailer WOW Sight & Sound.
Private equity firms target $500m for Myanmar investments
Leopard Capital and Cube Capital are among the Asian private equity firms looking to raise nearly $500 million for investments in Myanmar. It is hoped that the removal of trade sanctions imposed on the Southeast Asian nation will create opportunities...
Lazard-backed Hastie Group enters administration
Hastie Group, the Australian engineering company backed by Lazard, has entered into voluntary administration after recapitalization talks failed. It comes after recapitalization talks failed due to “accounting irregularities” led to a profits charge...
CIC poised to invest $2b in Alibaba Group – report
China Investment Corp. (CIC) may take a $2 billion stake in Alibaba Group in order to finance the Chinese internet company’s purchase of a 20% stake in itself from Yahoo. Last week, Alibaba agreed to purchase half of Yahoo’s 40% holding for $7.1 billion...
L Capital pulls out of deal to buy India’s Lilliput Kidswear
L Capital, the private equity arm of luxury group LVMH, has pulled out of the running to buy Lilliput Kidswear, according to the Indian clothing manufacturer's founder. The deal was expected to value the company at INR11 billion ($197 million), with L...
Asahi says it paid too much for PE-backed Independent Liquor
Asahi Group is re-examining the terms of its NZ$1.5 billion ($1.27 billion) acquisition last year of Independent Liquor from Pacific Equity Partners (PEP) and Unitas Capital, suggesting there were differences in understanding between the buyer and sellers...
KKR adds two India firms to green portfolio program
KKR India portfolio companies Bharti Infratel and Dalmia Bharat Cement are among the new additions to the private equity firm’s green portfolio program. The initiative, which now covers about 30% of KKR’s global portfolio, is designed to identify...
Macy’s invests $15m in China’s VIPStore
Macy’s, the US department store operator, has invested $15 million in VC-backed Chinese e-commerce firm VIPStore. As part of the deal, Macy’s will sell private brand merchandise through omei.com, VIPStore’s luxury retail site.
Helping corporate China go abroad
"Do you have a handle on your own management capabilities? Have you analyzed the cultural differences of the two sides? Do you understand the relationship between unionized labor and management in that place? If the other side's engineers resign, are...
KKR raises one-third of $6b Asia fund – report
KKR has reportedly attracted commitments of $2 billion in the first round of capital raising for its new Asia fund, which has a final target of as much as $6 billion. The news comes after The Carlyle Group made initial approaches to investors regarding...