Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
News: Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

Exclusive-Warburg Pincus seeks $16 billion for private equity fund -sources

09/16/2021 | 04:31pm EDT
FILE PHOTO: The Charging Bull or Wall Street Bull is pictured in the Manhattan borough of New York City

(Reuters) - Warburg Pincus LLC is seeking to raise $16 billion from investors for its latest flagship global private equity fund, its biggest ever, according to people familiar with the matter.

The New York-based firm is in the early stages of raising Warburg Pincus Global Growth 14, and prospective investors are already looking to make commitments to the fund, said the sources, who requested anonymity because the matter is confidential.

A spokesperson for Warburg Pincus declined to comment.

The new fund is poised to surpass in size Warburg Pincus Private Equity X, a $15.1 billion private equity fund the firm launched in 2007 that had been its largest fund to date. Its Warburg Pincus Global Growth fund raised $15 billion in 2018 and had generated a net internal rate of return (IRR) of 24.5% as of the end of June, one of the sources said.

Prior funds, the $13.4 billion Warburg Pincus Private Equity XII and the $11.2 billion Warburg Pincus Private Equity XI, had an IRR of 21.7% and 13.5%, respectively, one of the sources said.

Warburg Pincus joins other major private equity firms that are raising or have recently completed flagship fundraising.

In May, KKR & Co Inc raised its biggest ever fund, collecting $18.5 billion for its flagship North America private equity fund https://www.reuters.com/article/us-kkr-fundraising-exclusive/exclusive-kkr-raises-18-5-billion-for-flagship-north-america-buyout-fund-sources-idUSKBN2CK20W. Bain Capital also amassed $11.8 billion for its flagship North America buyout fund https://www.reuters.com/business/finance/exclusive-bain-capital-raises-118-billion-new-flagship-fund-2021-04-30 in April.

Warburg Pincus is one of oldest private equity firms, having been founded in 1966. The firm has $64 billion in assets under management in technology, business services, real estate and healthcare spread across the Americas, Europe and Asia. In addition to engaging in leveraged buyouts, Warburg is a leading venture capital and growth equity investor.

Some of the firm's recent investments include Edelman financial engines, a California-based investment advisory firm; Airtel Africa, an African telecoms operator owned by India's Bharti Airtel; and Ant Group, the fintech affiliate of Chinese technology giant Alibaba Group Holding Ltd.

(Reporting by Chibuike Oguh in New York; Editing by Steve Orlofsky)

By Chibuike Oguh


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ALIBABA GROUP HOLDING LIMITED 0.16% 177.7 Delayed Quote.-23.65%
BHARTI AIRTEL LIMITED -0.28% 694.45 End-of-day quote.36.35%
DOW JONES AFRICA TITANS 50 INDEX 0.00% 553.88 Delayed Quote.4.55%
Latest news "Economy & Forex"
07:34aAs outbreak worsens, COVID-19 cases in eastern Europe near 20 million
RE
06:54aUrban Development and Poor Neighborhood Upgrading Project - P146933
PU
06:54aLao PDR Health Governance and Nutrition Development Project - P151425
PU
06:05aHong Kong banks to disclose related property of clients who breach security law
RE
05:50aTop oil exporter Saudi Arabia targets net zero emissions by 2060
RE
05:50aTop oil exporter Saudi Arabia targets net zero emissions by 2060
RE
05:47aBollywood stars, Indian celebrities launch NFTs amid global craze
RE
10/23UK plans 8 billion pounds of extra health and education spending
RE
10/23UK says substantial differences remain with EU over Northern Ireland trade
RE
10/23Tesla increases model 3 standard range plus price by $2,000 to $43,990 – company website
RE
Latest news "Economy & Forex"