Press Releases

Warburg Pincus to Commit US$125 Million and Partner with Nirvana to Develop Hypermarket Anchored Retail Malls in Indonesia

NEW YORK and JAKARTA, Indonesia, Feb. 15, 2015 /PRNewswire/ -- Nirvana Development Tbk PT (NIRO.JKT, "Nirvana"), an emerging real estate developer and operator in Indonesia, today announced that an affiliate of Warburg Pincus, a leading global private equity firm focused on growth investing, will commit US$125 million (with the option to invest up to an additional US$ 75 million) and create a joint venture ("the Venture") with the company to build and develop a best-in-class retail platform in Indonesia. The Venture will focus on developing hypermarket-anchored shopping malls across second- and third-tier cities in Indonesia to capitalize on the growth potential driven by rapid urbanization, emerging consumption and outsized economic growth in these areas.