Warburg Pincus Collects $14 Billion for Flagship Fund


(Bloomberg) -- Warburg Pincus has held a first close of about $14 billion for its latest flagship fund -- its largest yet, according to people familiar with the situation.

The New York-based private equity firm began fundraising in May for Warburg Pincus Global Growth LP with an initial target of $13.5 billion, said the people, who asked to not be identified because the matter isn’t public. The firm could raise as much as $17 billion based on investor demand but will likely cap the pool at less than that, one of the people said.

The latest fund has been oversubscribed, one of the people said, with sovereign wealth funds and others keen to invest in private equity. It will likely hold a final close early next year, this person said.

A representative for Warburg declined to comment.

The firm raised $13.4 billion in 2015 for its previous flagship fund, Warburg Pincus Private Equity XII LP, according to data compiled by Bloomberg.

Warburg has more than $47 billion in private equity assets under management and active investments in more than 170 companies, according to its website.

The firm said in a filing with the U.S. Securities and Exchange Commission this month that it intends to raise $13.75 billion for its latest fund.

©2018 Bloomberg L.P.

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