Warburg Pincus is launching an asset management company in China to target distressed opportunities across the country’s heavily indebted real estate sector.
The US private equity firm said on Monday it was investing $600m in a partnership with Wensheng, a Chinese asset manager, and intended to build up as much as $5bn of assets under management in the next half decade.
It is the latest example of big US banks and investors forging deeper ties across China’s financial industry, despite the charged geopolitical backdrop between the two countries.
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