U.S. private equity powerhouse Warburg Pincus has closed its inaugural Asia-focused real estate fund at $2.8 billion, the firm said on Wednesday.
The Warburg Pincus Asia Real Estate Fund is the second-largest fund dedicated to the sector in Asia, according to data provider Preqin. Blackstone Group raised $7.1 billion in the region’s largest real estate fund in 2018, the data showed.
Warburg’s inaugural Asia real estate fund exceeded its initial target of $1.5 billion and hard cap of $2.5 billion because of strong demand, the firm said. More than 60% of the capital raised was from leading institutional investors in Asia, it said.
Read more/Source: Reuters
