Warburg Pincus, the global private equity firm, has performed the final closing of Warburg Pincus Real Estate l, a USD1.2 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,” says Joseph P. Landy, the Co-President of Warburg Pincus. “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.
“WPRE I combines our real estate experience and private equity investing expertise with a strong, dedicated capital base,” adds Michael F. Profenius, a and partner at Warburg Pincus. “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.
Over the last 20 years, Warburg Pincus has invested more than USD1 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 USD24 billion in 550 companies in more than 30 countries. The firm currently has more than $10 billion under management.