A Bloomberg report indicates that the companies will invest around US$450 million in the company, valuing it at over US$1 billion.
Talks are said to be at an advanced stage an agreement could be reached soon.
Bohao, which is based in Guangzhou, has delivered 400,000 square metres of data centres to customers in the Greater Bay Area in Beijing, Tianjin, the region around Shanghai and Chengdu.
The company raised around US$295 million in 2020 from institutional investors as part of its series A financing.
Warburg Pincus has already invested in other data centre firms in Asia, including Princeton Digital Group Pte which operates in China, Singapore, India, Indonesia and Japan.
In May, Macquarie said its third Asia-Pacific infrastructure fund has over US$4.2 billion in investor commitments.
Macquarie, though, most recently acquired a significant minority stake in Virtus data centres earlier this month.
The deal was announced by ST Telemedia Global Data Centres (STT GDC) which owns the UK-based data centre firm.
