Warburg Pincus closes $1.2bn global fund
Dubai, May 11, 2013
Warburg Pincus, a leading global private equity firm focused on growth investing, has announced the closing of a $11.2 billion global fund, which witnessed active participation from a lot of number of Middle Eastern investors.
The new Warburg Pincus Private Equity (WP XI) is one of the largest private equity funds raised post the global financial crisis. WP XI, like Warburg Pincus’ prior funds, will invest in growth companies in the firm’s key industry sectors across the globe.
“We are pleased to announce our final close,” said Charles R. Kaye, the co-president of Warburg Pincus.
“This successful fundraise, in a challenging environment, was driven by strong support from both existing and new investors. We see this success as a clear endorsement by our investors of our global growth investing model,” he added
WP XI’s Limited Partners include leading public and private pension funds, sovereign wealth funds, insurance companies, endowments, foundations and wealthy individuals.
A significant number of the new investors in the fund are from outside of the US. The firm held the final close of the fund within one year of the first close in May 2012, as planned.
WP XI will continue to pursue a strategy the firm has followed for more than 40 years -- partnering with management teams to build world-class companies.
Growth is always a core aspect of the Warburg Pincus’ investment thesis. The firm invests in businesses at all stages of development from start-ups and growth capital to special situations and buyouts.
The firm invests globally with a focus on five key industry sectors: Energy, Financial Services, Healthcare, Technology, Media and Telecommunications (TMT), and Consumer, Industrial and Services (CIS).
“Our strong track record and continuing ability to both make and exit investments that generate attractive rates of return, regardless of economic cycle, is a testament to the firm’s focus on building durable businesses that deliver value over the long-term,” said Joseph P. Landy, the co-president of Warburg Pincus.
Mazin Al Khatib, the managing director of Warburg Pincus in the Middle East said the company's strong track record of growth investing across the globe and its approach to value creation is attractive to Middle Eastern investors.
"We are pleased that a number of Middle Eastern investors have chosen to invest in our latest fund and look forward to building relationships with more investors in the years to come," he added.-TradeArabia News Service
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