Articles by Tim Burroughs
TPG-owned clinical trials player raises new equity, debt
Novotech, an Asia-based clinical trials specialist controlled by TPG Capital, has secured USD 760m in new equity and debt financing at a post-deal valuation of approximately USD 3bn.
Quadrant exits Australia experiential tourism business
Quadrant Private Equity has sold Journey Beyond, an Australia-based experiential tourism business, to US-based Hornblower Group, which is best known for offering cruise and sightseeing packages.
Asia PE investment hits new high in 2021
A rebound in China-based activity took Asia private equity investment to a record USD 105.3bn in the fourth quarter, ensuring that 2021 represents a new high watermark for the industry.
Australia's Allegro names Fay Bou as third partner
Australia turnaround investor Allegro Funds has appointed Fay Bou as its third partner, serving alongside co-founders Adrian Loader and Chester Moynihan.
4Q analysis: Record quarter, record year
China rebounds as Asia private equity investment ends 2021 with a bang; bright spots in improving fundraising environment; sponsor-to-sponsor exits thrive while PE-backed IPOs stumble
Deal focus: ACA seeks Asia-Europe sporting synergies
Japan’s ACA Group has acquired a Belgium-based KMSK Deinze as part of a multi-club investment strategy that will – in part – bring Asian players into the middle tiers of European football
Fund focus: Ince eyes global entrepreneurs
Blockchain, hardware, and entrepreneurs going global are on the agenda for Ince Capital Partners’ second fund, which closed above target despite LPs getting spooked by the tech sector crackdown
Bain exits Japan hot spring operator to Lone Star
Bain Capital has sold Ooedo Onsen Monogatari Resorts & Hotels, a Japan-based traditional inn and hot spring chain operator it acquired nearly seven years ago, to Lone Star for an undisclosed sum.
Novo Tellus targets $111m Singapore SPAC
Novo Tellus Capital Partners, a Southeast Asia-based private equity firm that focuses on middle-market industrial technology opportunities, has filed to list a special purpose acquisition company (SPAC) in Singapore.
MBK to buy control of Korea e-commerce solutions provider
MBK Partners has agreed to buy a controlling stake in KoreaCenter, a Korea-based e-commerce services provider, for KRW 491.7bn (USD 429.8m) across several equity and debt transactions.
India early wage access start-up secures $82m
Tiger Global Management has led a USD 82m Series B round for Refyne, an India-based early wage access (EWA) platform. Existing backers QED Investors, RTP Global, Jigsaw VC, Digital Horizon VC, and XYZ Capital also took part, as did partners from DST Global.
PE consortium cuts 51job take-private offer by 28%
A private equity consortium pursuing a take-private of US-listed Chinese online recruitment platform 51job has cut its offer price by 28%, citing deteriorating market conditions, regulatory tightening in China, and the continuing impact of COVID-19.
India waste management software provider secures $22m
Recykal, a software provider for the waste management and recycling industries, has raised USD 22m in funding led by Morgan Stanley India Infrastructure.
North Asia buyout player MBK sells GP stake to Dyal
North Asia-focused buyout firm MBK Partners has sold a 12% GP stake to Dyal Capital Partners, a unit of US-based alternative investment firm Blue Owl that buys interests in third-party managers.
Deal focus: India's Prime Venture secures four-year extension
Foundation Private Equity has made its first foray into India, taking out all the LPs in Prime Venture Partners' debut fund through a tender offer process
Goldman, Sofina lead Series C for China CDMO Zhenge
Goldman Sachs Asset Management and Sofina have led a USD 100m Series C round for Zhenge Biotech, a Shanghai-based contract development and manufacturing organisation (CDMO).
Diversity & inclusion: Acting with intent
GPs are looking to build teams representing different genders, ethnicities, and backgrounds as stakeholders call for more diversity and studies suggest it leads to better decision making
New Zealand's AskNicely raises $32m Series B
Five Elms Capital, a specialist growth investor in software start-ups globally, has led a USD 32m Series B round for New Zealand and US-based customer feedback platform AskNicely.
Carsome hits $1.7b valuation on closing $290m Series E
Carsome, a Malaysia-headquartered used car trading platform with operations across Southeast Asia, has raised USD 290m in Series E funding led by Qatar Investment Authority (QIA), 65 Equity Partners, and Seatown Private Capital Master Fund.
India sports: In it to win it
Private equity interest in the commercialisation of sport globally is filtering through to India, with a couple of high-profile cricket deals. What other franchises and rights owners could be up for grabs?
Vertex, Tikehau lead Singapore SPAC charge
Special purpose acquisition companies (SPACs) backed by Vertex Venture Holdings (VVH) and Tikehau Capital have filed for listings in Singapore.
FountainVest buys China QSR restaurant operator from EQT
FountainVest Partners has acquired China F&B Group (CFB), one of the master franchise operators for Papa John’s and Dairy Queen in mainland China, from EQT for an undisclosed sum.
China's Ince raises $700m across two funds
Ince Capital, a Chinese venture capital firm established by J.P. Gan, formerly a managing partner at Qiming Venture Partners, has raised USD 700m for its second fund and for an accompanying vehicle aimed at later-stage opportunities.
TA promotes Hong Kong-based Andrew Tay to principal
TA Associates has promoted Andrew Tay, a Hong Kong-based investment professional, from director to principal.