Warburg Pincus expands property stake

Warburg Pincus, a US private equity firm, will invest US$31 million in mainland property developed by Legend Holdings, the parent of computer maker Lenovo, the Hong Kong Standard reported. Legend's property arm, Raycom Real Estate Development, said Warburg Pincus will develop commercial and residential projects, starting with the Olive City housing project in Beijing. Warburg Pincus also holds a stake in Guangzhou R&F Properties.