Warburg Pincus to Partner with Nirvana Development to Build Retail Platforms in Indonesia (Asia)

Source: Warburg Pincus

Global private equity firm Warburg Pincus will invest US$125 million—with the option to invest up to an additional US$75 million—in a joint venture with Indonesia-based real estate developer and operator Nirvana Development. The transaction will be structured through Warburg Pincus Private Equity XI. The joint venture will develop and open hypermarkets in malls across Indonesia. The transaction, which is subject to shareholder approval and certain closing conditions, is expected to close in the second quarter of 2015.