Warburg Pincus LLC on Friday disclosed it has amassed $15.4 billion for its latest flagship global private equity fund that will acquire companies across industries around the world.
The move brings New York-based Warburg closer to hitting its initial target of collecting $16 billion from investors for the fund, Warburg Pincus Global Growth 14. The fund is the largest in the firm’s history, Reuters had earlier reported.
The new fund will surpass the Warburg Pincus Private Equity X, which had collected $15.1 billion in 2007. The most recent Warburg Pincus Global Growth fund, which had raised $15 billion in 2018, generated a net internal rate of return (IRR) of 19.12% as of the end of June last year, according to data from the Teachers’ Retirement System of the City of New York.
Founded in 1966, Warburg Pincus is one of the oldest private equity firms. The firm, led by Chief Executive Chip Kaye, has $85 billion in assets under management spread across technology, business services, real estate, and healthcare in the Americas, Europe, and Asia. Warburg is a leading venture capital and growth equity investor.