In 2010, Warburg Pincus invested in China Jinmao (formerly known as Franshion Properties), a state-owned property developer owned by Sinochem with one of the best portfolios of five-star hotels in China, three grade-A office buildings in prime locations in Beijing and Shanghai (including the iconic Jinmao Tower in Shanghai) and a strong pipeline of mixed-use developments in Shanghai, Nanjing, Changsha, and Qingdao. Warburg Pincus was actively involved throughout its investment, providing counsel on the company’s strategic initiatives, development planning, and capital markets activities. Warburg Pincus deepened the partnership with Jinmao by forming a project-level joint venture in Suzhou and supported the spinoff REIT listing of Jinmao’s prime hotel portfolio on the Hong Kong Stock Exchange. Warburg Pincus exited the investment in 2017.
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