Warburg-backed New Ease partners QuadReal to launch $1b logistics fund

Shanghai, China

Warburg Pincus-backed Chinese logistics infrastructure services operator New Ease Limited on Tuesday announced a tie-up with Canadian global real estate manager QuadReal Property Group to launch a logistics development fund.  

The fund, dubbed New Ease Gold Development L.P, has a total equity commitment of up to $1 billion, New Ease said in a statement. 

The fund will deploy capital in China’s logistics sector especially in top-tier cities, which are the hubs for manufacturing and consumption. 

New Ease, which will serve as the investment and asset manager for the fund, claims that it has selected a portfolio of pipeline assets amounting to $1 billion. Once fully deployed, New Ease’s assets under management (AUM) will reach $7 billion, while QuadReal’s global industrial properties will be scaled up to nearly 9 million sq m. 

“The partnership with QuadReal is a recognition of New Ease’s capabilities and strong track record. We will continue to execute on the identified pipelines, and expand the portfolio with more quality assets, providing a platform for investors to access institutional-quality opportunities in top tier markets in China,” said New Ease co-founder and chairman Sun Dongping in the statement. 

Shanghai-based New Ease operates as a specialist of logistics real estate with a target to invest and build novel warehouse properties in the country. As of now, it has approximately $5 billion AUM and owns over 5 million sq m of projects. 

Warburg Pincus had initially seeded an aggregate of $8 billion in New Ease. Warburg Pincus had earlier this week filed with the U.S Securities and Exchange Commission that it is in the market to raise a $1.5-billion Asia real estate fund. 

Headquartered in Vancouver, QuadReal manages a portfolio of assets worth over $50 billion spanning 17 countries.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.