Joe Gagnon, a former managing director and Asia real estate expert at Warburg Pincus, is exploring opportunities with rival private equity firm Hillhouse Capital Group.
Gagnon left Warburg two months ago, according to «Reuters» report citing unnamed sources, and is currently in talks with Hillhouse Capital to develop its real estate capabilities though his role has not been finalized.
Gagnon spent 15 years with Warburg Pincus and oversaw its real estate portfolio, including logistics platform ESR and property rental firm Nova, alongside other senior partners in China and Southeast Asia. Previously, he was with GE Capital real estate in New York.
Hillhouse was founded in 2005 and made its name through early investments in Chinese tech giants like Tencent, JD.com and Baidu. Its largest private equity fund raised $10.6 billion two years ago investing in global healthcare, consumer, technology and service sectors with a focus on the region. Currently, the Asia-focused Hillhouse Capital has no team or fund focused on real estate, according to its website.
