[size=1.1em]
Warburg Pincus will partner with Beijing-based investment conglomerate Hande Group to spend up to $5bn on distressed Chinese property assets, as investors seek opportunities from the country’s cooling building market.
Rating agencies have warned that smaller, highly indebted Chinese developers are at risk from the current property slump, with prices in major cities stagnant or falling. Moody’s forecasts that nationwide property sales volume will contract by 5 per cent next year.