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Warburg Pincus preparing Asia-focused $1.5 bn realty fund

Private equity firm Warburg Pincus is preparing for a $1.5 billion Asia-focused real estate fund, according to a media report.

It will mark the first Asian real estate fund from Warburg Pincus.

Warburg Pincus Asia Real Estate LP has filed Form D with the US Securities and Exchange Commission for its forthcoming fundraise.

It is not clear if the fund will invest in India but, given its exposure to the country, it is presumed to channelize a good share of the capital to the Indian real estate market.

The market has drawn leading private equity players from across the world over the years. Warburg Pincus has backed, through direct and indirect routes, several platforms in the country spanning asset classes in the sector.

Asia-focused logistics company ESR, backed by Warburg Pincus, set up its India vertical three years ago, which has garnered 700 acres of land and a project portfolio of 16.6 million square feet. It intends to grow its portfolio via development, acquisitions, and joint ventures.

Warburg Pincus has also backed the logistics platform of Embassy Group, one of the major developers in the country, through a joint venture. The JV was currently in the market to sell the platform but the deal did not happen.

The private equity firm has also backed Piramal Realty, the real estate arm of Piramal Group, at the entity level. Entity-level deals have become a rarity in the Indian real estate market. Any such transaction shows the confidence of the investor in the sector and the company.

In India and globally, fundraising has picked up recently with fund managers hitting milestones and rolling out new vehicles.

Recently, global investment firm Blackstone hit the final close of its maiden growth equity fund Blackstone Growth. The firm stated that the fund was oversubscribed and closed at its hard cap of $4.5 billion.

It witnessed participation from family offices, entrepreneurs, endowments, strategic institutional investors, pension funds, high-net-worth individuals, and others.

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