Lendlease and Warburg Pincus formed an $98m joint venture.

Lendlease, a provider of property and infrastructure solutions, and Warburg Pincus, a private equity firm, formed an $98m joint venture, to launch a specialist real estate platform capitalizing on the growing life sciences sector in Asia Pacific. Financial terms were not disclosed. “With the combination of Lendlease’s 30 year track record in the Asia Pacific supporting the world’s largest pharmaceutical and life sciences companies and Warburg Pincus’s experience and track record in investing and scaling platforms, the joint venture is well-positioned to become the leading integrated life sciences real estate business in the region, offering compelling new investment opportunities to our investors. This is another example of how we’re realising value from our existing operations, while further simplifying Lendlease to create a more focussed company for securityholders,” Tony Lombardo, Lendlease Global CEO.