The New York-based private equity firm is reportedly on the hunt for opportunities in Australian land lease communities.
Warburg Pincus, as reported by The Australian, has $80 billion in assets under management, with return targets believed to be in the high teens. Its interest in Australian land lease has fuelled speculation that it may seek to buy out operators such as Lifestyle Communities, Ingenia, or Serenitas.
While Stockland is suspected to be preparing to buy out Serenitas – currently 5% owned by founder Rob Nichols and 95% by Singaporean firm GIC – there are as yet no indications that a buyout offer is on the table for Ingenia or Lifestyle Communities, both of which are still trading at a premium despite falls in share prices.
