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Stage:
Venture
Date of Investment:
1991
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In July 1991, Warburg, Pincus formed a joint-venture with Argent Group
plc, a private company which acquired and managed commercial investment
properties in the United Kingdom. At that time, the United Kingdom
property market had recently experienced a 30% to 50% decline in
capital values resulting from economic recession, high interest rates
and oversupply. With an equity commitment from Warburg Pincus, Argent
was able to purchase high-quality properties at attractive yields and
benefit over time from both a market-wide property revaluation and
management's hands-on approach to creating value.
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