Articles by Tim Burroughs
Fund focus: Remote diligence underpins Adamantem’s first close
Australia's Adamantem Capital launched its second fund shortly before COVID-19 began to escalate, but the first close still features sizeable commitments from new investors that were unable to perform due diligence in-person
OTPP puts $350m into Edelweiss' India private debt business
India’s Edelweiss Group has brought a strategic investor into another of its business lines, with Ontario Teachers’ Pension Plan (OTPP) committing $350 million to the firm’s credit unit.
Deal focus: Shukun stands out from the crowd
Shukun sought to differentiate itself from other Chinese artificial intelligence medical imaging start-ups by focusing on heart rather than lung conditions, but a COVID-19 diagnosis solution has given the company real traction
Korean wave: Killer content
From Oscar-winning films to record-breaking pop bands, Korean content has started to replicate its success in Asia in the West. Venture capital investors are looking for ways to ride the K-wave
Affirma to exit Korea waste management business
Affirma Capital – formerly Standard Chartered Private Equity – has agreed to sell EMC Holdings, a South Korea-based waste and wastewater treatment business, to a unit of local conglomerate SK Corporation.
Deal focus: Hahn puts faith in aviation rebound
International travel remains largely off-limits, but Hahn & Company is optimistic on the long-term prospects for Korea's aviation industry and for Korean Air's in-flight catering and duty-free businesses
Q&A: Hong Kong Monetary Authority's Anson Law
Hong Kong’s updated limited partnership ordinance came into force this week. Anson Law, a senior manager for market development at Hong Kong Monetary Authority, explains why it’s important for the territory
Australia's IOOF to buy NAB wealth management arm
Australian financial advisory, investment management and superannuation provider IOOF Holdings has agreed to acquire MLC, the wealth management arm of National Australia Bank (NAB), for A$1.44 billon ($1.03 billion).
NSSK buys Japanese sports nutrition business
NSSK has acquired the sports nutrition division of Japan’s Dome Corporation, which is best known as the local distributor for US sportswear brand Under Armour.
Macro, geopolitical concerns not deterring China exits
Private equity investors are seeing significant IPO and exit activity out of China despite macroeconomic and geopolitical uncertainty arising from COVID-19 and China-US tensions, respectively.
Ekuinas exits Malaysia halal meats business
Malaysian government-backed private equity firm Ekuinas has sold Primabaguz, a local producer of premium halal meat-based products, to US-based Johnsonville International for MYR175 million ($42 million).
China's Xpeng raises $1.5b in US IPO, soars on debut
Chinese electric vehicle manufacturer Xpeng – which has a string of PE and VC investors – gained 41% on its New York trading debut after raising $1.5 billion in an upsized IPO.
PAG buys majority stake in Indian wealth manager
PAG has invested approximately $300 million for a 51% stake in the wealth management business of Indian financial services players Edelweiss Group. The goal is to demerge and list the unit within 18 months.
Hahn & Co buys Korean Air's catering, duty free businesses
Hahn & Company is making its second acquisition from South Korea’s Hanjin Group – six years after carving out the Hanjin Shipping bulk carrier business – having agreed to buy the in-flight catering and duty-free operations of Korean Air for KRW990.6...
PE-backed Ant Group files for Hong Kong, Shanghai IPO
Ant Group, the financial technology affiliate of China’s Alibaba Group, which has raised more than $20 billion in external private funding, has filed for a dual listing in Hong Kong and Shanghai.
L Catterton Asia: Unhappy families?
The merger of Catterton and L Capital was unique in its size and scope, creating the world’s largest consumer-focused private equity firm. However, perspectives on the experience remain polarized
Blackstone agrees $2.3b carve-out from Japan's Takeda
Japan’s Takeda Pharmaceutical has agreed to sell a portfolio of over-the-counter (OTC) medicines and health products to The Blackstone Group for JPY242 billion ($2.3 billion).
AVCJ Awards 2020 - last call for nominations
Nominations for the 2020 AVCJ Private Equity & Venture Capital Awards will close on September 30 at 6 p.m. Hong Kong time. Please take the opportunity to have your say on the year's outstanding firms, fundraises, investments and exits.
Carlyle exits Korean garment manufacturer
The Carlyle Group has agreed to sell its majority stake in Korean apparel manufacturer Yakjin Trading Corporation to domestic fashion giant JS Corporation for around KRW14.3 billion ($12 million).
Q&A: ChrysCapital Partners' Sanjay Kukreja
Sanjay Kukreja, managing partner at India-focused ChrysCapital Partners, discusses timing, healthcare, technology, and why it makes sense to back entrepreneurs you’ve backed before
US-China tensions worry tech investors - M&A Forum
Asia technology investors warned that an escalation in US-China tensions that impedes the development of start-ups will ultimately cost end-consumers as well as public market investors.
Uncertainty deters distress investors - M&A Forum
Distress-focused investors warned that persistent economic uncertainty is making it difficult to act on opportunities even as companies run into trouble because of the coronavirus pandemic.
Southern Capital secures Malaysia creamer carve-out
Southern Capital Group has completed the MYR1 billion ($240 million) acquisition of F&B Nutrition – a producer of sweetened creamer, an oil-based equivalent of condensed milk – from Malaysian food packaging player Can-One International.
India middle-market: Looking for positives
Private equity activity is gradually resuming as India’s economy emerges from lockdown, but investors are wary of paying too much for assets or putting their money behind unsustainable trends