Joanna Nolasco March 29, 2016
Warburg Pincus is looking to raise $2 billion for a China-focused PE fund, according to The Wall Street Journal. The new vehicle, which may close by December, will reportedly invest in tandem with Warburg Pincus Private Equity XII, a $12 billion fund closed in 2015.
The New York-based firm is already a leader when it comes to U.S. investment in China. According to the PitchBook Platform, Warburg Pincus has participated in 35 China deals since 2010 (many of the growth variety), ranking it the most active U.S. PE investor in the country during that timeframe. The Carlyle Group and KKR follow with 26 and 16 deals, respectively. Others include Morgan Stanley Private Equity (10), Blackstone (9), Silver Lake (9), General Atlantic (9), Bain Capital (8) and TPG (7).
Warburg Pincus's activity in China last year included investments in eDaijia, a provider of mobile-based designated driving services, and Yunniao Logistics. Earlier this year, the firm was rumored to be participating in a $450 million round for online banking business WeBank at a $5.5 billion valuation.
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