Warburg Pincus, a prominent global growth investor, and Lendlease, an integrated Australian real estate group with international investment capabilities, have announced the final closing on a new life sciences real estate joint venture platform. Both parties will commit 50% of the co-investment capital over the next few years, aiming to attract third-party investors and additional capital to grow the platform into a multi-billion-dollar entity.
The platform, headquartered in Singapore, will focus on investing in, acquiring, developing, constructing, managing, and operating real estate projects within the burgeoning life sciences and R&D markets in the Asia Pacific region.
Leveraging the extensive sector expertise and market experience of both Warburg Pincus and Lendlease, the joint venture aspires to become a leading life sciences and R&D real estate platform in Asia Pacific. It aims to capitalize on the attractive opportunities in the region’s rapidly expanding life sciences and R&D real estate sector. The platform is seeded with two of Lendlease’s existing businesses: a high-barrier-to-entry life sciences project construction management business and a specialized investment management business. It already includes its first investment vehicle, LINO, which owns Leaf Minatomirai, a 24,000-square-meter innovation and R&D workplace in Yokohama, with its asset enhancement initiative recently completed.
Lendlease brings over 30 years of experience in life sciences real estate, having successfully delivered top-tier pharmaceutical, biotechnology, and life sciences facilities across the US, APAC, and Europe. Its project construction management business is globally renowned and trusted by over 100 life sciences and pharmaceutical companies. Since the 2000s, Lendlease has completed over 200 projects in Asia Pacific for leading industry players, including the construction of two-thirds of the greenfield life sciences facilities in Singapore’s Tuas Biomedical Park and more than 90% of the biotech plants in the precinct.
Warburg Pincus has been a major player in Asia’s real estate market for nearly 20 years, investing over US$8.5 billion in more than 50 real estate ventures, including leading platforms co-founded with top entrepreneurs such as ESR, Princeton Digital Group, StorHub, Vincom Retail, and BW Industrial. Over the past decade, Warburg Pincus has actively engaged in Asia’s life sciences real estate and R&D sectors through specialized ventures, including DNE in China and a partnership with Eastgate in Japan.
Takashi Murata, Managing Director and Co-Head of Asia Real Estate and Head of Japan at Warburg Pincus, stated, “We believe the life sciences and R&D real estate industry in Asia Pacific presents tremendous opportunities for growth. This investment aligns with Warburg Pincus’s strategy of partnering with top entrepreneurs to create platforms that capture high-growth opportunities in the region. We are excited to collaborate with Lendlease, sharing our expertise and resources in real estate and healthcare sectors to accelerate the joint venture’s growth and create value for stakeholders.”
Justin Gabbani, CEO Investment Management at Lendlease, added, “We are eager to partner with Warburg Pincus to establish Asia Pacific’s leading life sciences and R&D real estate investment platform. Lendlease will leverage its expertise in supporting the world’s largest pharmaceutical and life sciences companies, combined with Warburg Pincus’s global experience, resources, and strong track record in scaling platforms in Asia.”
About Warburg Pincus
Warburg Pincus LLC is a leading global growth investor managing over $83 billion in assets. The firm’s active portfolio includes more than 225 companies diversified by stage, sector, and geography. Since its founding in 1966, Warburg Pincus has invested over $117 billion in more than 1,000 companies globally across private equity, real estate, and capital solutions strategies. The firm is headquartered in New York with offices worldwide.
About Lendlease
Lendlease is an integrated real estate group with international investment capabilities, headquartered in Sydney, Australia, and listed on the Australian Securities Exchange. Lendlease operates through its Investments, Development, and Construction segments, providing innovative integrated solutions for its customers.
