News
Warburg Pincus and Kio Expand Partnership to Accelerate Investment in Australia’s Living Sector Aug 12, 2026
- Expansion of the partnership to accelerate the creation of an Australia living sector platform.
- Includes an increased capital commitment to support the acquisition of a build-to-rent portfolio, as well as an expanded mandate covering PBSA. Together, the partnership's total capital commitment is expected to support the development of a rental living portfolio with a target end value of A$2.5 billion.
Sydney, August 12, 2026 – Warburg Pincus, the pioneer of global growth investing, and Kio Investment Management ("Kio"), a leading Australian real asset investment manager founded by industry veteran Sam Bisla, today announced the expansion of their partnership through an additional capital commitment to further accelerate investment in build-to-rent (“BTR”) and expand into purpose-built student accommodation (“PBSA”) across Australia's key gateway cities.
Established in 2024, Kio’s has rapidly moved to secure four high quality projects in tier-1 submarkets across Sydney, Melbourne and Brisbane. All four have received development approvals, with three already under construction. The expanded venture is seeded with a fifth BTR asset in Collingwood, Melbourne, where early construction is expected to commence in Q4 2026, delivering more than 400 apartments in one of Melbourne’s most sought-after inner-city locations.
Reflecting the conviction in Australia’s long-term living sector fundamentals, the partnership’s investment mandate has also been broadened to include the acquisition and development of PSBA assets, supporting Kio’s ambition to create a full-spectrum living platform of scale.
Supported by a robust pipeline of identified opportunities, the platform is well positioned to become a scaled institutional living platform across Australia's key urban markets. The expansion also reflects Warburg Pincus' long-standing strategy of partnering with exceptional local entrepreneurs to build market-leading platforms in Asia’s living sector.
Andrew Fitzpatrick, Managing Director at Warburg Pincus, said: “We are pleased to deepen our partnership with Sam and the Kio team. Since launching the partnership together in 2024, they have demonstrated exceptional sourcing capability, disciplined execution and a clear ability to develop high-quality institutional living assets in Australia's most attractive markets. Australia's rental living sector remains one of the most compelling long-term investment themes in the region. Strong population growth, constrained housing supply and increasing demand for institutionally managed rental housing continue to create attractive long-term fundamentals. This expanded partnership further reflects our confidence that Kio is well positioned to build one of Australia's leading institutional living platforms.”
Sam Bisla, Founder and Managing Director of Kio Investment Management, added: “Since our partnership began, we have moved quickly to establish a meaningful presence across Australia's tier-1 rental living markets, while building a strong pipeline for future growth. This expanded commitment allows us to accelerate the next phase of growth by increasing our BTR portfolio and expanding into PBSA, creating a more diversified institutional living platform. Warburg Pincus has been far more than a capital partner. Their proven experience building scaled real estate platforms and their long-term approach continue to be invaluable as we execute our strategy.”
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About Kio Investment Management
Kio Investment Management (“Kio”) is an Australian real asset investment manager focused on the living sector, with strategies spanning build-to-rent, studio living and other institutional residential platforms across major capital cities. The firm specialises in the acquisition, development and operation of institutional-grade rental housing in partnership with domestic and global capital partners.
Kio’s strategy is centred on creating high-quality, professionally managed residential communities in supply-constrained urban markets, with a focus on long-term ownership, operational excellence and resident experience. Since inception, the firm has rapidly established a growing national footprint across Melbourne, Sydney and Brisbane through a series of major transactions and development partnerships, building a diversified pipeline across the Australian living sector.
About Warburg Pincus
Warburg Pincus LLC is the pioneer of global growth investing. A private partnership since 1966, the firm has the flexibility and experience to focus on helping investors and management teams achieve enduring success across market cycles. Today, the firm has more than $105 billion in assets under management, and more than 225 companies in its active portfolio, diversified across stages, sectors, and geographies. Warburg Pincus has invested in more than 1,100 companies across its private equity, real estate, and capital solutions strategies.
Warburg Pincus has been investing in Asia real estate for over two decades. Today, it is one of the largest and most active investors in the region, with more than $10 billion invested across around 60 real estate platforms and ventures in Asia Pacific, spanning logistics, data centres, living, and industrial. In the living sector, Warburg Pincus has partnered with best-in-class local operators to build leading residential rental platforms, including Weave Living, a living sector specialist focused on gateway cities across Asia Pacific, and Tokyo Beta, the largest share house portfolio in Japan.
The firm is headquartered in New York with more than 15 offices globally. For more information, please visit www.warburgpincus.com or follow us on LinkedIn and YouTube.
Media Contacts
Warburg Pincus
Lisa Liang
Senior Vice President, Asia Head of Marketing and Communications, Warburg Pincus