Warburg Pincus closes $17.3 billion fund
Private equity firm Warburg Pincus announced the successful close of its latest global flagship fund, Warburg Pincus Global Growth 14, L.P. WPGG 14 was launched in 2021, targeting a fund size of $16 billion. The $17.3 billion fund is the largest-ever fundraise in the firm’s 57-year history, exceeding the previous global flagship fund, Warburg Pincus Global Growth, which closed on $15 billion in 2018.
The capital committed gives Warburg Pincus a large, dedicated pool of capital to pursue a global set of opportunities for investment in growth companies within the firm’s key industry sectors. Significant investments made to date in WPGG 14 include Simtra BioPharma Solutions, Ensemble Health, EverBank, Internet Brands, Norstella, Oona Insurance, ParetoHealth, and Watertec India.
Last month, Prudential and Warburg Pincus announced the launch of Prismic Life Reinsurance, a licensed Class E Bermuda-based life and annuity reinsurance company. Last year, the private equity firm said it will acquire K2 Insurance Services from Lee Equity Partners.
“The overwhelming success of this fundraise was driven by strong support from both existing and new investors who recognize and support our growth investment model and our ability to manage risk across market cycles. We are grateful for their ongoing support, especially amidst an uncertain macro landscape and one of the toughest ever fundraising environments. Given that back-drop, we remain disciplined about investment pacing and prioritizing high conviction themes. Additionally, geographic and sector diversification coupled with over five decades of investment experience fundamentally drives our consistency – especially in uncertain moments.” – Chip Kaye, CEO, Warburg Pincus.
“This is a challenging period for investors, with rising rates and geopolitical tension, but also new promise from this wave of innovation. This puts a premium on diversification, a careful and disciplined approach to investing, and deep expertise on the shifting frontiers of technology, across sectors and economies. We look forward to continuing to navigate the ever-shifting mix of opportunities and challenges, partnering with excellent management teams to build great companies.” – Timothy Geithner, chairman, Warburg Pincus.
