Warburg Pincus hits $12B hard cap for Fund XII in six months
November 24, 2015
Marking one of the largest fund closes in the past several years, Warburg Pincus has announced Warburg Pincus Private Equity XII has received third-party commitments significantly in excess of its $12 billion hard cap. The fundraising process spanned just a matter of months—the vehicle had formally launched in May—and culminated with a single close.
The oversubscribed Fund XII is larger than its predecessor, which closed on $11.2 billion in 2013 and had generated a 19.70% IRR as of 3Q. The firm's Fund X, though, had raised $15 billion in 2007, recording an 8.81% IRR as of the end of last quarter. Warburg Pincus focuses on five key industry sectors: energy, financial services, healthcare & consumer, industrial & business services and TMT, often participating in growth and venture rounds as opposed to solely targeting buyouts.