Warburg Pincus, Oxford Recommit in Hale’s $750m Raise

Australian logistics manager and developer Hale has secured about $750 million in new equity commitments for the second vintage of its flagship logistics investment vehicles.

Global institutional investors Warburg Pincus and Oxford Properties Group have backed the continued tailwinds underpinning the growth of the constrained infill last-mile logistics market. 

The raise supports Hale’s second series of funds—HCLF2 and HCILF2—and expands its platform, which now manages about $3.3 billion in assets.

Warburg Pincus and Oxford Properties, both cornerstone investors in Hale’s inaugural funds, have recommitted alongside a new global institutional partner.

The capital will be deployed across two strategies: an opportunistic development fund targeting modern and last-mile logistics facilities in supply-constrained urban markets, and a value-add/core-plus vehicle focused on income-producing assets and repositioning.

Hale said the strategy was aimed at capturing structural tailwinds in the sector, including urbanisation, population growth, infrastructure investment and the continued rise of e-commerce.

Infill industrial vacancy across key East Coast markets remains near historic lows, while limited land supply in inner-ring locations continues to support rental growth and redevelopment.

Hale co-founder Robert McMickan (pictured with co-founder Nicholas Bradley in main image) said the commitments marked a key milestone for the business.

“We are particularly grateful for the continued support from Warburg Pincus and Oxford Properties. Their re-commitment is a strong endorsement of our execution capabilities and track record,” McMickan said.

▲ CityPort, a cold storage facility built by Hale at Morningside in Brisbane.

Founded in 2021, Hale has rapidly scaled into a major logistics-focused fund manager and developer, with exposure to single and multi-level logistics, cold storage and industrial outdoor storage.

Warburg Pincus managing director Andrew Fitzpatrick said the firm’s renewed investment reflected confidence in both Hale’s platform and the long-term outlook for infill logistics assets.

“Our re-commitment reflects our conviction in the long-term growth opportunities in supply-constrained segments of the Australian logistics market,” he said.

Oxford Properties head of Australia Alec Harper said the partnership had helped build one of the country’s leading last-mile logistics portfolios.

The raise comes as institutional capital continues to target logistics assets, underpinned by strong tenant demand and supply constraints in urban markets.