Warburg commits $328 mln in Australia's MA Financial's property credit vehicle (updated)

MA Financial

17/10/2024 02:06

(Updates with further details and background from paragraph 2
onwards)
       Oct 17 (Reuters) - Private equity firm Warburg Pincus
 WP.UL  said on Thursday it has committed A$490 million ($327.96
million) to Australia's MA Financial Group's  MAF.AX  real
estate credit vehicle in a bid to fund the country's
undersupplied residential housing market. 
    MA Financial, which is the Australian affiliate of
investment giant Moelis & Co  MC.N , had earlier announced that
it would work together with Warburg. 
    The commitment by Warburg comes at a time when Australian
firms, including property company Dexus  DXS.AX , have all
raised real estate credit funds in the country to tap the
housing market. 
    "Over the next five years, the cumulative dwelling shortage
is projected to reach approximately 254,000 units, alongside an
anticipated 30% increase in annual population growth," said
Takashi Murata, managing director and co-head of Asia Real
Estate and head of Japan at Warburg Pincus. 
    The private equity firm has over $83 billion in assets under
management, according to its website, and operates an active
portfolio of more than 225 companies. 
    
    
($1 = 1.4941 Australian dollars)

 (Reporting by Rishav Chatterjee in Bengaluru; Editing by Alan
Barona)
 ((Rishav.Chatterjee@thomsonreuters.com))