By Clarence Leong
Warburg Pincus LLC has raised $2.8 billion for a real-estate fund focused on Asia, as it seeks to capture investment opportunities arising from technology disruption in the sector.
The standalone fund, Warburg Pincus Asia Real Estate Fund LP, will be used to buy and develop assets including logistics, data centers, IT office, life science parks and multifamily real estate, in partnership with real-estate developers and operators, Warburg said in a press release Wednesday. It will also “invest in the repositioning of underperforming or obsolete real estate assets.”
Leading institutional investors in Asia accounted for more than 60% of the capital raised, the private equity firm said. The fund’s final size exceeded the initially targeted $1.5 billion due to “strong demand from the limited partners.”
Warburg said it has invested in Asian real-estate companies for over 15 years and now has…