In June 2011, Warburg Pincus co-founded e-Shang, an e-commerce-focused logistics real estate platform based in China.

In partnership with Warburg Pincus, e-Shang merged with logistics real estate firm Redwood Group Asia to create ESR, deepening its footprint in China and expanding into Asia through a series of strategic acquisitions. Warburg worked with ESR to establish funds and investment vehicles to develop logistics and industrial facilities with strategic investors such as Singapore’s GIC, Malaysia’s EPF, New China Life Insurance Company and AXA Investment Managers.

ESR prioritized the development and management of sustainable buildings to address climate change risks by adopting energy-efficient lighting, comprehensive water and waste management systems, expansive green areas and rooftop solar panels.

As of 2020, ESR has become the largest Asia Pacific logistics real estate platform by gross floor area and AUM, and is setting new standards for sustainable development in the region with green design initiatives throughout its buildings.