- The partnership is well-positioned to meet the evolving needs of South Korea’s aging population through innovative and high-quality senior housing developments.
- Leveraging Warburg Pincus’ global resources and deep experience in the living sector, as well as SK D&D’s strong local presence and expertise in development and operations, the partnership is poised to capture the opportunities in the emerging senior housing sector in South Korea.
- This marks Warburg Pincus’ first investment in the living sector in South Korea.
Seoul, March 10, 2025 – Warburg Pincus, the pioneer of private equity global growth investing, SK D&D, one of South Korea’s largest multifamily operators and developers, and D&D Investment, the subsidiary asset management arm of SK D&D, today announced that they have signed a joint agreement to invest in the senior housing market in South Korea. This partnership will focus on acquiring and developing senior housing for the senior population in the Greater Seoul Area.
The venture is seeded with three high-quality, strategically located assets in Seoul’s most amenitized districts, catering to the rapidly growing elderly population. The first project, situated in Bangbae-dong, Seocho-gu, within Seoul’s core Gangnam residential district, will be developed into a 12-story high-end assisted living facility spanning over 10,000 square meters. Construction is scheduled to begin in early 2026, with completion targeted for 2028. The other two assets are already in operation, providing well-established infrastructure with convenient access to nearby hospitals and amenities.
The partnership with SK D&D and D&D Investment marks the third venture in South Korea through Warburg Pincus Asia Real Estate Fund, following the partnership with Wide Creek Asset Management to focus on new economy real estate; and QUBE, its joint venture with MQ logistics to focus on modern logistics warehouses.
Takashi Murata, Managing Director, Co-Head of Asia Real Estate and Head of Japan at Warburg Pincus, said, “We have built a high conviction that the senior housing market in South Korea presents tremendous opportunities, fueled by the shifting demographics and a growing aging population. In 2024, South Korea has officially become a super-aged society, with individuals aged 65+ representing 20% of the population, amid a significant shortage in both the quantity and quality of senior housing options. Meanwhile, the South Korean government has proactively introduced supportive policies and measures to bolster the senior housing market in recent years, providing a significant tailwind to this nascent industry. We are pleased to partner with SK D&D and D&D Investment to foray into the senior housing market in South Korea and look forward to leveraging our respective expertise and resources to capture the opportunities.”
Kim Do-hyun, CEO of SK D&D, said, “We’re excited to embark on this journey with Warburg Pincus to capitalize on the growing demand for high-quality senior housing facilities in South Korea. Leveraging our strong local presence and expertise in development and operations, as well as Warburg Pincus’ deep platform-building experience and operational expertise in the living sector, we believe the strategic partnership is poised to create leading players in this emerging sector by addressing the evolving needs of the aging population through innovative and high-quality senior housing developments.”
Warburg Pincus began investing in Asia real estate in 2005. Today, it has become one of the largest and most active investors in the region, with over US$9 billion invested in more than 50 real estate platforms and ventures. As a leading investor in the for-rent living sector in Asia, Warburg Pincus has partnered with best-in-class local operators, building significant depth in this sector. Upon completion, its managed portfolio will encompass over 140,000 rooms across multiple platforms and ventures.
About Warburg Pincus
Warburg Pincus LLC is the pioneer of private equity global growth investing. A private partnership since 1966, the firm has the flexibility and experience to focus on helping investors and management teams achieve enduring success across market cycles. Today, the firm has more than $87 billion in assets under management, and more than 220 companies in their active portfolio, diversified across stages, sectors, and geographies. Warburg Pincus has invested in more than 1,000 companies across its private equity, real estate, and capital solutions strategies.
Warburg Pincus began investing in Asia real estate in 2005. Today, it has become one of the largest and most active investors in the region, with over US$9 billion invested in more than 50 real estate platforms and ventures. The firm is a pioneer of platform investing and has co-founded or sponsored some leading platforms alongside best-in-class entrepreneurs such as ESR, DNE, Vincom Retail, BW Industrial, Princeton Digital Group, Weave Living, and StorHub.
About SK D&D
SK D&D is a comprehensive real estate developer engaged in commercial and residential projects, asset management, and investments in South Korea. SK Discovery and Han & Company participate in joint management. Its subsidiary, D&D Investment (DDI), is a wholly owned asset management firm specializing in real estate investment, while D&D Property Solutions (DDPS) focuses on property management and operations.
About D&D Investment
D&D investment is an asset management subsidiary of SK D&D, established in January 2018. Since its inception, the company has experienced rapid growth and currently manages real estate development projects and assets totaling approximately KRW 4 trillion. Leveraging synergies with SK D&D, DDI has strengthened its market competitiveness, focusing on development REITs. Additionally, to expand its investor and strategic spectrum, the company listed D&D Platform REITs in August 2021, further extending its presence into the public market.
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Senior Vice President, Asia Head of Marketing and Communications, Warburg Pincus
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