De Lacharrière secures 5% stake in Warburg Pincus

JosУЉ Rojo
29 October 2015

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French executive Marc Ladreit de LacharriУЈre is set to become a strategic LP in Warburg Pincus funds after the acquisition of a 5% stake in the GP via his family office Groupe Marc de LacharriУЈre (GML).

Aside from heading GML, Ladreit de Lacharrière is currently CEO of listed credit rating holding Fimalac, which he founded in 1991. Fimalac controls a minority stake in rating giant Fitch Group.

His purchase of a 5% stake will see him assume a prominent role in Warburg's LP base as a senior strategic partner. The current investment will be fully dedicated to the GP's vehicles, with plans by Ladreit de Lacharrière to follow this with additional commitments as an LP.

The announcement takes place months after reports suggested Warburg was working towards the launch of a 12th global fund, targeting a total $12bn size.

The figure surpasses the amounts raised by predecessors Warburg Pincus Private Equity IX and XI, which raised $8bn and $11.2bn. The GP's 2007-vintage 10th vehicle had attracted $15bn.

Warburg's move comes after an active 2015 on the sell-side for the GP. This year has seen the firm divesting its majority stake in survival equipment designer Survitec for £450m in January, its 14% interest in British discount retailer Poundland for £142m in February, and its 32% stake in Polish fast-food franchise AmRest in August.

Gaining a foothold at the GP level in parallel with a fund commitment mirrors the approach of listed GP Eurazeo and insurer Axa, which each secured a 22% stake in French mezzanine house Capzanine as they committed €380m to its funds last week.