Warburg Pincus, Legend forge real estate deal
The global private-equity investor will place an initial $31 million into China projects.
Global private-equity player Warburg Pincus, with $12.5 billion under management, has teamed up with Legend Holding's real estate arm, Raycom Real Estate Development, in a strategic cooperation agreement to jointly invest in and develop projects in China.
Initially, Warburg Pincus will invest $31 million in projects Raycom is now developing, including Olive City, a large mid-end residential development in northeast Beijing. The partnership will also invest in commercial development…
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