Articles by Tim Burroughs
PE firms offer Alibaba staff a liquidity event
The timing of Silver Lake's investment in Alibaba Group, alongside parties including DST Global, Yunfeng Capital, Temasek Holdings, was curious. Days earlier Silver Lake reportedly contacted Yahoo as one of several private equity firms considering a bid...
Global buyout firms warn of tightening credit markets
Henry Kravis, co-founder of KKR, said that private equity deals are becoming more expensive as debt markets tighten and the cost of capital goes up.
Blackstone raises half its $781m RMB-denominated fund
Blackstone Group has reached the halfway point in fundraising for its RMB5 billion ($781.3 million) debut renminbi-denominated fund, said Michael Sotirhos, senior managing director at the buyout firm.
Trustbridge receives $30m from Arizona pension fund
Trustbridge Partners has received a $30 million commitment for its fourth fund from the Arizona Public Safety Personnel Retirement System. An India sidecar fund on JPMorgan’s Asian Infrastructure & Related Resources Opportunity (AIRRO) Fund will get...
Citic Private Equity targets $1.9b RMB fund
Citic Private Equity Funds Management, the PE unit of Citic Securities, has launched its third private equity fund and is aiming to raise RMB12 billion ($1.9 billion). It is expected to target industries including financial services, retail, pharmaceuticals,...
Chinese luxury goods website raises seed round of financing
Parkview Ventures and Mousse Partners have participated in the seed round of financing for Chinese e-commerce company Hui She Shang, also known as The Luxury Club. The company offers Chinese consumers authentic and brand-authorized luxury goods – including...
CNEI commits $8m to Chinese grooming products firm
China New Enterprise Investment (CNEI) has committed $8 million to Men’s Life, which designs and distributes a range of skin care and post-shaving products to male consumers in China.
South Korea’s Hanwha backs US solar firm OneRoof Energy
South Korea’s Hanwha International has led a $50 million round of financing for residential solar company OneRoof Energy, which works directly with roofers to lease and install residential solar power systems.
Unitas on course to exit Exego to US-listed Genuine Parts
Exego Group, an Australian auto parts distributor owned by Unitas Capital, has sold a 30% stake in itself to US-listed Genuine Parts Company for around $150 million in cash. The transaction will take the form of a new share issue, with Genuine Parts carrying...
Advent International closes in on BT’s Tech Mahindra stake
Advent International is intensifying negotiations with BT over the UK telecom group’s stake in Tech Mahindra. BT held a 23.37% interest in the Indian IT company as of June 30 and has been looking at exit options. Based on current market prices, the...
Nominations for the 2011 AVCJ awards close September 30
The AVCJ Asian Private Equity & Venture Capital Awards recognizes individuals, firms and transactions that have contributed to the success of the Asian private equity and venture capital industry. Tell us who you think deserves recognition. Submissions...
Blackstone jettisons India asset management interests
Blackstone Group is exiting India Fund Inc., its largest India-focused closed-end mutual fund scheme, to Aberdeen Asset Management Asia.
Blackstone to exit first Chinese property investment
Blackstone Group has agreed to sell its 95% stake in Shanghai’s Channel 1 shopping mall to Hong Kong-based property group New World Development for RMB1.46 billion ($229 million).
AXA tipped to sell private equity unit for around $670m
French insurer AXA has put its private equity unit up for sale in order to focus on its core insurance business.
Private equity firms invest in China's Alibaba Group
Silver Lake and DST Global will invest in leading Chinese technology firm Alibaba Group as part in order to provide liquidity to Alibaba employees. Chinese private equity firm Yunfeng Capital, which was founded by Alibaba founder Jack Ma, and Singapore...
PEP set to approach potential buyers of Griffin’s Foods
Pacific Equity Partners (PEP) will approach potential buyers for Griffin’s Foods in the next week or two, setting up a deal that has been valued at up to A$750 million ($735.7 million) including debt.
Australian private equity firms struggle to raise new funds
Australian private equity firms are struggling to raise new funds, with investors demanding lower fees and more information on portfolio companies.
Russia sovereign wealth fund in talks with potential Chinese partner
Russia Direct Investment Fund (RDIF), the country’s new sovereign wealth fund, is in talks with a Chinese group about making joint investments, with details of a partnership potentially to be announced in October.
Samsung C&T confirms talks with Apollo over Parallel Petroleum
Samsung C&T Corp. confirmed Thursday that it is in talks to buy US oil company Parallel Petroleum from Apollo Global Management. In a statement to the South Korean Stock Exchange, Samsung C&T noted that the parties have yet to reach a definitive agreement.
CIC in talks over potential investment in Northern Rock
China Investment Corp. (CIC) is being courted by British entrepreneur Sir Richard Branson as a potential partner for Virgin Money in a bid for UK lender Northern Rock. The bank, which received a GBP1.4 billion government bailout in 2008, is tipped to...
IL&FS exits auto services JV to Orix Corp
Infrastructure Leasing and Financial Services (IL&FS) has exited its 50% stake in Orix Auto Infrastructure Services to Japanese conglomerate Orix Corporation, its partner in the joint venture, DealCurry reported.
Franklin Templeton commits $9m to Indian pharma firm
Franklin Templeton Private Equity Strategy (FTPES) has invested INR450 million ($9.2 million) in Symbiotec Pharmalab, a company that produces active pharmaceutical ingredients. Details of the transaction were not disclosed.
Updated: TPG’s Australia head moves to Singapore
TPG has relocated Ben Gray, head of its Australia operations, to Singapore from Melbourne. He has taken on the role of managing partner and group head for Australia, Japan, Korea and Southeast Asia. Stephen Peel remains the other managing partner for...
InMobi tools up for Google, Apple battle
Mobile advertising network InMobi seeks to position itself as an alternative to Google and Apple. Now the company has capital to reinforce its claim.