Articles by Tim Burroughs
KPMG names Moyers head of US private equity group
KPMG has named Marc Moyers as head of its US private equity group. He succeeds Shawn Hessing who is retiring from the firm.
Indian budget hotel chains court private equity
A number of Indian budget and mid-range hotel chains are seeking private equity investment to support their expansion plans, Mint reported.
Blackstone exited Chinese agricultural firm due to PR concerns
Blackstone Group earlier this year exited its investment in Dili Group, the parent company of a Chinese vegetable trading firm, after being warned that its involvement would complicate moves to raise prices, the Financial Times reported, citing people...
Chinese securities firms cleared to participate in private equity
Chinese regulators have formalized a five-year-old pilot program under which securities firms can participate in private equity, Reuters reported.
Nestle offers $1.7b for 60% of Chinese candy company
Nestle has offered to buy 60% of Hsu Fu Chi International, a leading Chinese confectionary company, for about $1.7 billion and then take the company private in collaboration with its family owners, Reuters reported. The deal values Hsu Fu Chi at S$3.46...
Sun Art raises $1.1b in Hong Kong IPO
Sun Art Retail Group, China’s largest supermarket operator, raised $1.1 billion through its Hong Kong IPO after pricing shares at the top of the indicative range.
Temasek sees portfolio reach $158b for 2010-2011 fiscal year
Temasek Holdings, Singapore’s second-largest sovereign wealth fund, said that its portfolio was worth a record S$193 billion ($158 million) at the end of its last financial year in March, up from S$186 billion ($152 billion) in 2010. Net profit came...
New Silk Route closes in on India restaurant deal
New Silk Route Advisors expects to close its first investment in an Indian restaurant business later this month, having spent two years looking for suitable targets. The private equity firm has committed $100 million in debt and equity and plans to spend...
Lone Star, Hana agree on cut-price deal for KEB
Lone Star will sell its stake in Korea Exchange Bank (KEB) to Hana Financial Group for just over KRW4.4 trillion ($4.16 billion), after both sides agreed to cut the price tag by KRW283 billion ($266 million). The price for the 51% stake in KEB has been...
China Auto Logistics raises $5.25m through private equity placement
China Auto Logistics has raised $5.25 million through a private equity placement. The NASDAQ-listed company, which runs automobile-related websites, sells imported luxury vehicles and provides automobile-related services, sold 3 million unregistered common...
Archer’s fifth fund could reach $1.5b
Archer Capital’s much talked-of fifth fund could reach A$1.4 billion ($1.5 billion), with Future Fund expected to sign up as an investor, The Australian reported. The fundraising target was previously said to be A$ 1.2 billion ($1.27 billion).
Century Bridge exits from China real estate project
Century Bridge Capital has cashed out of its $125 million joint venture with Jia Heng Real Estate. It is the Dallas-based private equity firm’s first exit from an investment in China. Terms of the exit were not released.
Blackstone-backed Bluestar relaunches IPO efforts
Bluestar Adisseo Nutrition Group, which is part-owned by Blackstone Group, is targeting a $1.5 billion dual listing in Hong Kong and Paris, the Wall Street Journal reported, citing people familiar with the situation.
Blackstone's new fund tipped to reach $16b
Blackstone Group is set to raise a higher-than-expected $16 billion for its latest fund due to strong investor interest, primarily from sovereign wealth funds, Reuters reported, citing a source familiar with the matter. Last year, Blackstone COO Tony...
Corporates lead India VC into the light
Early-stage funding has been hard to come by in India. Corporate funds plugged the gap but competition is now rising as venture capital matures
India exits: M&A trumps IPO
A new study reveals sharp disparities in preferred private equity exit routes in China and India
CMIA seeks to work with China’s farmers
Investment in China's agricultural sector is not easy. While the central government is keen on reform and consolidation – with a long-term view to leveraging the economies of scale that characterize farming in the West – progress is held back by land...
Temasek reduces holdings in Bank of China, China Construction Bank
Temasek Holdings, Singapore’s second-largest sovereign wealth fund, has reduced its holdings in Bank of China and China Construction Bank in order to scale back on its financial sector exposure, raising around $3.6 billion in the process.
North American property funds dominate 2Q fundraising
North America property funds accounted for most of the $11.2 billion raised by private equity funds with a final close in the second quarter of 2011, according to research firm Preqin. Total commitments were up on the $8.9 billion raised in the first...
Nestle in talks with Baring-backed Chinese confectionary company
Nestle is negotiating a potential investment in Hsu Fu Chi, a Chinese confectionary company in which Baring Private Equity Asia is a minority shareholder. Singapore-listed Hsu Fu China is China’s largest publicly held confectionary company. It is worth...
CDB to invest in MP Pacific Harbor Capital
China Development Bank (CDB) is poised to become a cornerstone investor in MP Pacific Harbor Capital, an Asian credit fund, as part of a wider initiative to take stakes in private equity and hedge funds.
PEP-backed Collins Foods seeks to raise $255m through IPO
Collins Foods, the Australian fast-food group owned by Pacific Equity Partners, plans to raise up to A$238 million ($255 million) through an IPO. The firm will offer 81.6 million shares priced at A$2.50-2.92 apiece in what is potentially Australia’s...
Bondholders threaten takeover of failed Japanese consumer lender
A&P Financial’s court-mandated takeover of Japan’s Takefuji Corp. could be derailed after bondholders in Takefuji sought to force the consumer lender into liquidation with a view to seeing a better recovery from their investment, Reuters reported.
Lexington closes largest-ever secondaries fund at $7b
Lexington Partners has closed its latest secondary fund at $7 billion, making it the largest-ever secondaries offering, Dow Jones reported, citing people familiar with the situation. The fund includes separate accounts – including one held by China...