Warburg Pincus Files Two SPACs Seeking Combined $750 Million


Private equity firm Warburg Pincus filed to raise $750 million in initial public offerings by two new special purpose acquisition companies.

Warburg Pincus Capital I-A is seeking to raise $250 million while Warburg Pincus Capital I-B is targeting $500 million, according to filings Wednesday with the U.S. Securities and Exchange Commission that confirmed an earlier Bloomberg report.

Both blank-check companies can acquire targets in any sector or region, according to the filings.

This is Warburg Pincus’s first entry into the heated SPAC market. This year, 150 of the merger vehicles have raised more than $46 billion in IPOs, according to data compiled by Bloomberg.

Warburg Pincus is joining other brand-name buyout shops that are sponsoring SPACs. TPG, Apollo Global Management Inc. and tech-focused Thoma Bravo have each set up at least one blank-check firm.

Citigroup Inc., Credit Suisse Group AG and Evercore Inc. are leading both of the offerings by Warburg Pincus. The firm plans to list the two SPACs on the New York Stock Exchange under the symbols WPCA and WPCB.

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