Warburg Pincus closes $15bn fund

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Fund

Warburg Pincus has closed its latest fund, Warburg Pincus Private Equity X, on $15bn, exceeding by $3bn its $12bn target. Warburg Pincus closed its last private equity fund, Warburg Pincus Private Equity IX, on $8bn in 2005. The lifespan of the latest fund was not disclosed, but according to a spokesperson Warburg Pincus has a longer investment horizon than a number of private equity firms. No placement agent was used in the fundraising process. Warburg Pincus refused to comment on the fund's terms and conditions.

Investors

Investors in the fund include public and private pension funds, such as the Universities Superannuation Scheme and the Teacher Retirement System of Texas, endowments and global financial institutions including the Washington State Investment Board and GE Asset Management.

Investments

The fund has a broad investment remit and will target companies at various stages of development, from early-stage through to buyout and special situations. There are no set allocations in terms of geographical investment spread. The fund has already made 10 investments.

People

Joseph P Landy and Charles R Kaye, co-presidents of Warburg Pincus, will manage the fund.

Name: Warburg Pincus Private Equity X

Closed on: $15bn

Focus: Global

Contact

Joseph P Landy, Charles R Kaye

Address

Warburg Pincus LLC

466 Lexington Ave

New York, NY 10017

Tel: +1 212 878 0600