Warburg Pincus extends stake in Continental Warehousing

According to the private equity firms, the acquisition is part of Warburg Pincus' $100 million investment commitment to Continental Warehousing. This commitment was announced in April when Warburg Pincus bought IL&FS' full stake in the company. IL&FS' exit generated an IRRof 27.8% on an initial $7.6 million investment made five years ago. Aureos, which invested $10 million in Continental Warehousing in July 2009, followed by a second tranche in December, will retain a smaller minority stake in the company.

Warburg Pincus' overall stake in Continental Warehousing has not been disclosed, though Aureos claims that it had controlled a "significant minority stake." The sale represents Aureos' fourth exit from a portfolio of eight companies in India, where it has been increasingly active over the last five years through its South Asia Funds, the firm claims.

Earlier this week, IL&FS invested $8.9 million in agri-warehousing firm JICS Logistic, its fourth investment in India's logistics and warehousing space in five years.

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• Topics
• South Asia
• Infrastructure
• Exits
• Warburg Pincus Asia
• Aureos Advisers (Aureos Capital)
• IL&FS Investment Managers