SINGAPORE -- E-Shang Redwood, a Hong Kong-based modern warehouse manager backed by American private equity Warburg Pincus, announced it will acquire 80% of the manager of Singapore Exchange-listed Cambridge Industrial Trust. E-Shang Redwood's foray into Southeast Asia reflects Warburg Pincus' commitment to expanding investments in the region.
Warburg Pincus is rumored to be a possible suitor for Singapore-based warehouse manager Global Logistic Properties. Jeffrey Perlman, managing director and head of Southeast Asia of the New York-based fund told press that logistics is the sector that the fund is "very, very focused on" in Asia, although he gave no comment on the GLP speculation.
