Warburg Pincus, Oxford Properties and a third unnamed global investor have collectively committed around A$750m (€457m) to two new logistics vehicles, launched by Hale, a vertically integrated Australian logistics manager and developer.
Both Warburg Pincus and Oxford Properties have re-committed to the firm’s latest capital raising having been cornerstone investors for Hale’s inaugural vintages.
The new capital will be deployed across Hale’s two primary strategies – an opportunistic fund focused on development of modern and last-mile logistics facilities in supply-constrained urban markets and secondly, a value-add/core plus vehicle targeting high-quality income-producing assets and repositioning strategies
Andrew Fitzpatrick, managing director, Warburg Pincus, said: “Hale has quickly established itself as a leading infill logistics platform in Australia. Since our partnership began in 2021, the team has demonstrated strong execution, disciplined underwriting, and differentiated origination in supply-constrained urban markets.
“Our re-commitment reflects our conviction in the long-term growth opportunities in the supply constrained segments of the Australian logistics market and our confidence in Hale’s vertically integrated platform and its ability to consistently deliver across single- and multi-level logistics, cold storage, and industrial outdoor storage.”
Alec Harper, head of Australia, Oxford Properties, said: “Oxford’s re-commitment is testament to our deep conviction in the Australian infill logistics sector, and Hale’s world-class management team and platform. Since our cornerstone investment in Hale’s inaugural vintages, the team has successfully executed against strategy, building out one of Australia’s premier last-mile logistics portfolios, and an impressive track-record across the full asset lifecycle.
“Today’s announcement signifies continued momentum for our like-minded partnership, as Oxford continues to enhance our leading global logistics portfolio.”
Robert McMickan, joint managing director and co-founder, Hale, said: “Securing these commitments from high-calibre institutional partners marks a transformative milestone for Hale, reflecting deep institutional conviction in our strategy and platform. We are particularly grateful for the continued support from Warburg Pincus and Oxford Properties.
“Having cornerstoned our first vintage, their decision to re-commit to this second series is a strong endorsement of our execution capabilities and track record. Welcoming a pre-eminent global investor as a new partner further underscores our ability to deliver outperformance across the risk spectrum. This capital will allow us to scale with discipline during a pivotal moment in the real estate cycle.”
With the new equity, the company said it would immediately capitalise on current market dislocations and structural shifts in the Australian logistics market. Infill industrial vacancy across key east coast markets remained near historic lows, while limited land supply in inner-ring locations continues to support rental growth and redevelopment opportunities, it said.
Hale was founded by McMickan and Nicholas Bradley in 2021 and currently manages A$3.3bn in assets on behalf of seven institutional clients. The platform spans single-and multi-level logistics, cold storage, and industrial outdoor storage.
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