Warburg Pincus (WP) and BWID proposed to discuss with GELEX on investment cooperation in the segment of industrial logistics real estate, data centers in Vietnam

On May 31, at Gelex Group Headquarters, Mr. Pao Jirakulpattana, Vice President of Warburg Pincus (Singapore) and Mr. Lance Lee, General Director of BWID had a meeting with the Board of Directors of Gelex Group. Accordingly, Warburg Pincus (WP) proposed to discuss with Gelex about investment cooperation in the field of real estate, industrial logistics/e-commerce including data centers in Vietnam.

At the meeting, GELEX leaders shared the Group’s visions and strategies for investment and development in the segment of real estate and plans for industrial parks expansion and development in potential areas in the northern region in the near future. The industrial parks in the current system were attracting many big investors.

Leader of Gelex Group (left) and leader of Warburg Pincus Investment Fund and BWID (right) at the meeting on the afternoon of May 31.

Shared at the meeting, Mr. Pao Jirakulpattana, Vice President of Warburg Pincus (Singapore) and Mr. Lance Lee, General Director of BWID recognized the advantages and strengths of the GELEX system in general. Especially, when Vigracela owns a large land bank of industrial real estate at favorable locations and has experience and capacity to develop land bank for industrial real estate, Warburg Pincus and BWID representatives said that, WP was the largest real estate investor in Asia with an extensive experience in the segment of industrial/logistics/data centers “for rent”; in Vietnam, WP’s shares accounted for 70% of BWID and developed BWID to become the largest and fastest rental industrial/logistics real estate platform in Vietnam.

With financial potential, experience and prestige in the international market, cooperation with like-minded partners like GELEX (Viglacera’s parent company) would help the parties to exploit the best advantages of each party and create a model to get more profit from industrial park real estate land bank exploitation. The two parites would continue to discuss to jointly find a potential cooperation mechanism for the parties to benefit from the development in this segment.

Warburg Pincus LLC is a leading global growth investor with over USD 170 billion in assets under management (AUM). The Group has an active and diversified investment portfolio of more than 245 companies across different stages of development, segments and geographies. Founded in 1966, Warburg Pincus built and managed 14 hedge funds and invested more than USD 50 billion in more than 720 companies in more than 35 countries. In the Vietnamese market, Warburg Pincus established a joint venture BWID on January 23, 2018 with the vision of making BWID a major industrial real estate and rental logistics platform in Vietnam.