Warburg Pincus Closes $1.2 Billion Global Private Equity Real Estate Fund
Warburg Pincus Real Estate I, L.P. to be Invested in Global Opportunities
with Focus on U.S., Europe and Asia
NEW YORK, Oct. 30 /PRNewswire/ -- Warburg Pincus, the global private equity firm, today announced the final closing of Warburg Pincus Real Estate I, L.P. (WPRE I), a $1.2 billion global fund that will be invested in real estate opportunities worldwide. "Real estate investing has been a focus area for Warburg Pincus for more than two decades, so I'm particularly pleased to be able to announce the close of this dedicated fund," said Co-President Joseph P. Landy. "We've moved to establish a separate fund for our global real estate investment activities at a time when the firm has seen its proprietary real estate deal flow increase substantially around the world." With the close of WPRE I, Warburg Pincus intends to apply its fundamental principles of private equity investing to an expanded focus on global real estate opportunities. Throughout its four decades in private equity, the firm's worldwide infrastructure and global expertise in core industries have been a key aspect of its overall strategy. This is the 12th fund raised by Warburg Pincus since the firm's founding in 1966. Michael F. Profenius, a Warburg Pincus Managing Director and a partner in the firm's global real estate practice, said: "WPRE I combines our real estate experience and private equity investing expertise with a strong, dedicated capital base. This enables us to take advantage of attractive real estate investment opportunities and the team is actively pursuing numerous transactions in the global market." The investor base of WPRE I is comprised of certain institutional investors, including a number of long-term limited partners who have previously invested in Warburg Pincus private equity funds. "We are excited about investing in Warburg Pincus' real estate fund because we like the global focus, including the exposure it provides to markets such as China and other parts of Asia," said Phil Riordan, Senior Managing Director, GE Asset Management. "We believe that the real estate fund's investment strategy, its integrated approach with its private equity business and its focus on entity-level investing are different and compelling." Over the last 20 years, Warburg Pincus has invested more than $1 billion in real estate and real-estate related transactions. The firm's investments have spanned diverse real estate sectors including homebuilding, retail, senior housing, lodging, self-storage, land development and real estate services in North America, Europe and Asia. Since 1971, when the firm raised its first institutional fund, Warburg Pincus has invested approximately $24 billion in 550 companies in more than 30 countries. The firm currently has more than $10 billion under management. About Warburg Pincus Warburg Pincus is one of the oldest and largest private equity investment firms in the world. Working in partnership with management teams, Warburg Pincus has taken an active role in building businesses. The firm has an active portfolio of more than 100 companies. Significant current and past real estate related investments include: Chelsea Property Group, Grubb & Ellis, Grupo Pinar, Guangzhou R&F Properties, Lennar Corporation (previously Pacific Greystone), Racebrook Capital, Raycom, Resolution II Holdings, Romanian Real Estate Partners, Sunshine 100, StorageMart and Wall Homes. Other significant private equity investments include BEA Systems, Coventry Health Care, Knoll, Mattel, Mellon Financial, Neiman Marcus, Neustar, WNS, Bharti Tele-ventures and TransDigm. Throughout its 40-year history, Warburg Pincus has invested at all stages of a company's life-cycle, from founding start-ups and providing growth capital to leading restructurings, recapitalizations and buy-outs. The firm has offices in New York, Menlo Park, London, Frankfurt, Hong Kong, Beijing, Shanghai, Tokyo and Mumbai. For more information please visit http://www.warburgpincus.com.
SOURCE Warburg Pincus
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