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Australia: US private equity firm Warburg Pincus and Australian real asset investment manager Kio Investment Management have announced additional capital for investing in build-to-rent (BTR) and purpose-built student accommodation (PBSA) across Australian cities.
Established in 2024, Kio has secured four projects in Sydney, Melbourne and Brisbane. All four have received development approvals, with three already under construction.
The expanded venture is seeded with a fifth BTR asset in Collingwood, Melbourne, where construction on 400 apartments is expected to start in Q4 2026.
The partnership’s investment mandate has also been broadened to include the acquisition and development of PSBA assets.
Its total capital commitment is expected to support the development of a rental living portfolio with a target end value of A$2.5 billion (£1.3 billion).
Andrew Fitzpatrick, managing director at Warburg Pincus, said: “Strong population growth, constrained housing supply and increasing demand for institutionally managed rental housing continue to create attractive long-term fundamentals.”
Sam Bisla, founder and managing director of Kio Investment Management, added: “Since our partnership began, we have moved quickly to establish a meaningful presence across Australia’s tier-1 rental living markets, while building a strong pipeline for future growth. This expanded commitment allows us to accelerate the next phase of growth by increasing our BTR portfolio and expanding into PBSA, creating a more diversified institutional living platform.”
Highlights:
- US private equity firm Warburg Pincus and Australian real asset investment manager Kio Investment Management have announced additional capital for investing in build-to-rent (BTR) and purpose-built student accommodation (PBSA) across Australian cities
- Established in 2024, Kio has secured four projects in Sydney, Melbourne and Brisbane
- The expanded venture is seeded with a fifth BTR asset in Collingwood, Melbourne, where construction on 400 apartments is expected to start in Q4 2026.
- The partnership’s investment mandate has also been broadened to include the acquisition and development of PSBA assets.
- Its total capital commitment is expected to support the development of a rental living portfolio with a target end value of A$2.5 billion (£1.3 billion)
