In 2005, Warburg Pincus invested in Guangzhou R&F (R&F), the largest real estate developer in Guangdong Province. Warburg Pincus’ investment restored the confidence of investors in R&F during difficult market conditions and helped the company successfully go public with a record financing. The financing was, at the time, the largest capital raise by a Chinese real estate developer in markets outside of mainland China. Warburg Pincus exited the investment in 2007.
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