Articles by Tim Burroughs
Cross-border e-commerce player Wish files for US IPO
Wish, a cross-border e-commerce platform that connects Chinese merchants who primarily sell products through domestic channels like Alibaba Group’s Taobao and Tmall with consumers in the US and Europe, has filed for a US IPO.
India's Reliance Retail marks close of $6.4b fundraise
Indian conglomerate Reliance Industries has announced the completion of a funding round for its retail unit with INR472.7 billion ($6.4 billion) in commitments from eight investors.
PE-backed Antengene trades flat after $359m HK IPO
Antengene, a China-based drug developer that previously raised $238 million across three private funding rounds, closed roughly flat on its first day of trading in Hong Kong following a HK$2.78 billion ($359 million) IPO.
PE-backed Perfect Diary jumps 75% on debut after $616m IPO
Yatsen Holding, the parent company of Chinese cosmetics brand Perfect Diary, gained 75% on its first day of trading on the New York Stock Exchange following a $616.9 million IPO.
Macquarie, Armitage-backed Nuix to list in Australia
Macquarie and Armitage Associates are both set to make partial exits when analytics software provider Nuix completes its Australia IPO.
Warburg Pincus, Advantage honored at AVCJ Awards
Warburg Pincus and Advantage Partners triumphed in the firm of the year categories at the 2020 AVCJ Private Equity & Venture Capital Awards, with The Carlyle Group and Affinity Equity Partners also among the winners with two trophies apiece.
Sequoia, Matrix back $200m Series A for China’s D3 Bio
D3 Bio, a Chinese drug developer that studies and specifically targets areas where existing approaches to care are not delivering satisfactory outcomes, has raised $200 million in Series A funding.
Asia buyout managers see no shift in return targets - AVCJ Forum
Asia-focused buyout managers do not expect an economic downturn to impact the returns underwritten into investments at the portfolio level as long as leveraged financing remains competitively priced and new paths to liquidity continue to emerge.
Asset allocation: So long, silo?
The total portfolio approach remains on the margins of asset management. Advocates of the model hope LPs will reconsider as they look for alpha beyond the areas where they normally find it
PE firms look to move fund management companies onshore - AVCJ Forum
Private equity investors are willing to reconsider their options regarding the location of their fund management companies even as they remain wedded to the Cayman Islands as a domicile for funds, the AVCJ Forum heard.
Q&A: British Columbia Investment's Jim Pittman
Jim Pittman, global head of private equity at British Columbia Investment Management, discusses the mechanics of building a co-investment heavy portfolio from Canada’s 12th largest urban center
Virtual AGMs & IR: Close encounters
The technology is available to facilitate informal discussions at virtual AGMs, but do these solutions present an acceptable substitute for physical interaction, and do GPs and LPs want to use them?
COVID-19 amplifies focus on societal issues - AVCJ Forum
Concerns that impact investment would get pushed to the margins in the chaos of COVID-19 have been confounded by a renewed emphasis on social issues created by the pandemic, according to industry participants.
KKR agrees $1.6b carve-out of Walmart's Japan business
KKR has agreed to acquire a majority stake in Seiyu, a Japanese supermarket operator controlled by US-headquartered Walmart, in a deal that values the business at JPY172.5 billion ($1.6 billion).
MBK makes $1.1b take-private offer for China Auto Rental
MBK Partners has followed up its purchase of a significant minority stake in car rental business China Auto Rental (CAR) with a take-private offer that values the company at HK$8.56 billion ($1.1 billion).
Virtual AGMs & IR: Up in the air
Private equity firms are still finding their feet with annual meetings that no longer take place on the ground. Like it or not, virtual engagement is set to become a larger part of investor relations from now on
J-Star exits Japan TV shopping business via trade sale
J-Star has sold Itty, a Japanese TV shopping business that specializes in healthy living products, to local broadcaster TV Asahi Corporation for an undisclosed sum.
Goldman invests $150m in India biosimilars business
Goldman Sachs has invested INR11.2 billion ($150 million) in Biocon Biologics, the biosimilars business of Indian pharmaceuticals manufacturer Biocon, at a post-money valuation of $3.94 billion.
Q&A: The Carlyle Group's Kewsong Lee
Kewsong Lee, CEO of The Carlyle Group, discusses the firm’s response to COVID-19, finding alpha in a low growth world, not allowing size to inhibit speed of action, and embracing work-from-home
Hillhouse, Boyu, CareCapital back condom maker
Chinese private equity firms Hillhouse Capital, Boyu Capital and CareCapital Partners, a specialist dental and consumer health investor, have paid $200 million for a 40% stake in condom brand LifeStyles.
China short video platform Kuaishou files for Hong Kong IPO
Kuaishou, a Chinese video sharing and social networking platform backed by the likes of Tencent Holdings, Sequoia Capital China, Boyu Capital and DST Global, has filed for a Hong Kong IPO.
Hony closes debut China VC fund at $130m
Chinese private equity firm Hony Capital has closed its first venture capital fund at $130 million after approximately four months in the market.
ESG: Selling sustainability
As demonstrated by CVC Capital Partners' experience with Softex Indonesia, cost savings are a good starting point when trying to convince Asia founders to embrace sustainability initiatives
Polaris hits hard cap on fifth Japan fund, prepares for final close
Polaris Capital Group has reached the hard cap of JPY150 billion ($1.4 billion) for its fifth Japan buyout fund and expects to announce a final close later this month, according to CEO Yuji Kimura.