Australia’s leading independent law firm, Corrs Chambers Westgarth, has advised Warburg Pincus LLC (Warburg Pincus) and its affiliates on the expansion of their partnership with Kio Investment Management (Kio) and the establishment of a new expanded venture with additional capital commitments.
The venture proposes to invest in build-to-rent (BTR) and expand into purpose-built student accomodation (PBSA) projects across Australia with the total capital commitment expected to support the development of a rental living portfolio with an end value of A$2.5 billion.
Warburg Pincus is a leading global private equity firm with approximately US$105 billion in assets under management, specialising in investments across multiple sectors including real estate. Kio is a Sydney-headquartered alternative investment manager focused on scalable real asset strategies.
The transaction was led by corporate partner Adam Foreman and his team, including special counsel Marina Pappas and senior associate Ronnie Duan, real estate partner David Ellenby and his team, along with support from partners Fadi Khoury, Ian Reynolds, Megan Russell and their teams across the firm’s financial services and funds, banking and finance and regulatory practices.
Commenting on the matter, Adam Foreman said: “We are pleased to advise Warburg Pincus on yet another significant venture that will expand its Australian real estate portfolio across the BTR and PBSA sectors.
“The transaction demonstrates Corrs’ ability to combine corporate and commercial real estate expertise on complex real estate transactions and its market leading experience advising private capital on these types of real estate platforms and joint ventures.”