Warburg Pincus and Golden Union Group to form Golden Union Assets.

Warburg Pincus, a private equity firm, and Golden Union Group, Chinese urban renewal and development operator, are set to form Golden Union Assets, a joint venture engaged in urban renewal projects in Shanghai and Beijing. Financial terms were not disclosed. “Urban renewal and redevelopment, which plays an important role in supporting the high-quality development of cities in China, has been written into the country’s 14th Five-Year Plan," Jessica Yu, Golden Union Group Chairman.