Warburg Pincus Is Said to Plan to Launch Two Blank-Check Firms


Private equity firm Warburg Pincus is planning to launch two blank-check companies, according to people familiar with the matter, adding to the $35 billion already raised by SPACs this year.

Warburg Pincus could announce the new vehicles as soon as Friday, said the people, who asked not to be identified as the details aren’t public. One of the special purpose acquisition companies will seek to raise $500 million, while the other will aim for $250 million, they said.

A representative for Warburg Pincus declined to comment.

While Warburg Pincus hasn’t raised its own blank-check company before, it’s taken one of its investments public via one. SOC Telemed, a provider of acute care telemedicine services, agreed to go public last year through a deal with Healthcare Merger Corp., a SPAC backed by private equity firm Shulman Ventures.

In addition to the 117 SPACs that have already gone public on U.S. exchanges this year, there are 77 more announced this year seeking to raise more than $20 billion in pending IPOs, according to data compiled by Bloomberg.

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