Articles by Tim Burroughs
China funds: Cult of personality
Star dealmakers are busy setting up their own funds in China. LPs need to separate the hype from the investment reality
European banks tipped to dispose $45m in PE assets by 2014
European banks could divest up to $45 billion in private equity assets within three years, according to Thomas Liaudet, a partner at Campbell Lutyens. Financial institutions are looking to rid themselves of non-core assets as they restructure their businesses...
Vodafone wants PE partner for its India business
Vodafone is in talks with at least two private equity companies as it seeks a replacement for its Indian partner Essar, The Economic Times reported, citing a person involved in the discussions.
KIC’s new CEO pledges to boost private equity exposure
Korea Investment Corp.’s (KIC) new chief executive has pledged to boost the sovereign wealth fund’s exposure to alternative investments such as private equity and commodities.
Apollo, ICICI Venture to launch non-banking finance company in India
Apollo Global Management and ICICI Venture are planning to launch a joint venture non-banking finance company (NBFC) in India to tap the country’s growing financial services sector, The Economic Times reported, citing people familiar with the plans.
Indonesia considers cap on foreign ownership of local banks
Indonesia is considering limits on foreign ownership of domestic banks at a time when private equity firms are keen to boost their exposure to the sector. Darmin Nasution, the central bank governor, said that the potential impact of the regulations is...
CalPERS, CalSTRS announce annual gains in excess of 20%
US pension fund CalPERS announced a 20.7% return for the year ending June 30, a 14-year high, while sister fund CalSTRS reported its best performance in 25 years with growth of 23.1%.
Aureos targets $200m fund for India, Sri Lanka, Bangladesh
Aureos Capital is targeting a year-end close for a $200 million fund that will invest in India, Sri Lanka and Bangladesh. Balaji Srinivas, managing partner at Aureos India Advisers, told Bloomberg that the Aureos India Fund II would deploy around 15%...
Affinity hires Singaporean banker to head up portfolio management
Affinity Equity Partners has hired the former head of investment banking at Singapore’s United Overseas Bank to lead its portfolio management division.
Affinity makes final bid for Australian meats firm
Affinity Equity Partners has submitted a final bid for a controlling stake in Primo Smallgoods, a source close to the deal has told AVCJ. Earlier reports suggesting that the bid for the Australian meat products company amounts to A$580 million ($622 million)...
Tencent pays $115m for 15% stake in Chinese software company
Chinese software company Kingsoft has agreed to sell a 15.68% stake to leading internet platform Tencent for HK$892 million ($115 million). Tencent will also invest $20 million in Kingsoft’s internet security subsidiary, which counts Matrix Partners...
PEP-backed Collins Food raises $216m through IPO
Collins Foods, the Australian fast-food group owned by Pacific Equity Partners, has raised A$201.8 million ($216.6 million) after pricing its IPO at the bottom of the indicative range, Reuters reported. It is still the largest domestic offering of the...
Suntory to set up JV with Carlyle target GarudaFood
Indonesia’s GarudaFood plans to establish a soft drinks joint venture with Suntory, the Japanese corporate thought to have lost out to The Carlyle Group in the final round of bidding for a stake in the company. Suntory is looking to spend around $126...
PE-backed China Forestry expects 1H loss
China Forestry Holdings, which counts The Carlyle Group and Partners Group among its investors, has warned that it is expected to post a loss for the first half of 2011. The Hong Kong-listed company said earlier this year that an investigation into alleged...
CHAMP wants Bright Food to pay $638m for Manassen
CHAMP Private Equity is looking to sell Australia’s Manassen Foods to China Bright Food Group for around A$600 million ($638 million), Dow Jones reported, citing people familiar with the matter. An IPO remains a possibility if the trade sale doesn’t...
PE firms target Indian non-banking financial companies
Private equity firms have invested $200 million in six Indian non-banking financial companies (NBFCs) since the start of the year despite regulators saying they will tighten their grip on the sector, Live Mint reported.
Carlyle registers RMB fund with China's NDRC
A renminbi-denominated fund launched by The Carlyle Group has been registered with the National Development and Reform Commission (NDRC), becoming the first vehicle backed by a foreign firm to receive such approval. Beijing Carlyle Investment Center was...
Temasek eases exposure to Chinese banks
The timing of Temasek's sell-down of a partial stakes in Bank of China and China Construction Bank certainly raised eyebrows. Singapore’s second-largest sovereign wealth fund made its move hours after Moody’s warned that the scale of local government...
Vietnam’s road to reform
A strong consumer market is one of Vietnam’s most appealing qualities, but long-term economic stability is still required
Accel targets $125m India venture fund
Accel Partners is targeting a $125 million fund that will be dedicated to India, The Business Standard reported. The California-based venture capital firm is understood to have sounded out various large fund-of-funds about its plans.
Composition seals Japan real estate deals
Composition Capital Partners has concluded two residential real estate investment deals in Japan through its Composition Asia Fund II.
Collins Booksellers to take REDGroup’s Angus & Robertson franchises
Australian book chain Collins Booksellers has reached an agreement with REDGroup Retail’s administrators to take several Angus & Robertson franchises, according to local media reports.
Orchid closes fifth China fund at $650m
Orchid Asia has reached a final close on its fifth China private equity fund, imposing a hard cap of $650 million despite subscriptions amounting to 35% over the target size.
Bright Food linked to Manassen Foods bid
China’s Bright Food Group is in negotiations to buy Manassen Foods from CHAMP Private Equity, Reuters reported, citing two people with knowledge of the matter. Australian firm Manassen, which was acquired by CHAMP in 2006, is best known for Jelly Belly...