Warburg Pincus closes inaugural Asia real estate fund at $2.8b

Warburg Pincus has closed Warburg Pincus Asia Real Estate Fund with committed capital of $2.8 billion, making it one of the largest ever first-time dedicated real estate funds globally and the second-largest active opportunistic real estate fund in Asia.

Warburg Pincus Asia Real Estate Fund will be used to buy and develop assets including logistics, data centers, IT office, life sciences parks and multifamily real estate in partnership with real estate developers and operators. The fund will also invest in the repositioning of underperforming or obsolete real estate assets as well as those in special situations.

Warburg Pincus Asia Real Estate Fund was launched in November 2020, initially targeting a fund size of $1.5 billion. Due to the strong demand from the limited partners, the fund received commitments in excess of the $2.5 billion hard cap set during the fundraise and completed a final close at $2.8 billion. More than 60 percent of the capital raised was from lea