New-York based PE firm, Warburg Pincus just closed another new fund. Targeting only $3.5 billion, the firm received $4.25 billion instead. The fund is focusing on the Southeast Asia and China companies within its portfolio.
The firm has previously invested on a number of the region’s now biggest startups and unicorns. Including Ant Fnancial, Go-jek,Nio and ZTO Express. It is a successor of prior Warburg Pincus China with $2.2 billion companion fund that closed back in 2016.
Warburg Pincus China-SEA II will invest on the regions companies alongside with Warburg Pincus Global Growth. The later is a global private equity fund that focuses on growth. The fund closed at $14.8 billion last year.
Warburg Pincus investment: still focused on the 5 sectors
This year, new investors joined along with existing investor on the firm;s current funds. There is a diverse mix of funds from leading public and private pension funds, insurance companies, to high-net-worth individuals.
The now 53-year-old firm will focus the upcoming investment to five sectors. Including consumer and services, healthcare, real estate, financial services and technology, media and telecommunications (TMT) space.
Charles R. Kaye and Joseph P. Landy, the Co-CEOs of Warbug Picust stated that they have invested more than $11 billion. The fund is spread to over 120 companies across China and Southeast Asia.
At the joint statement, the two also said that they are generating significant returns and distributions for their investors. This, according to them, reflects their established track record as well as talented investment team.
Jeff Perlman, Managing Director and Head of Southeast Asia, added: “In recent years, from our Singapore base, Warburg Pincus has become one of the largest and most active investors in Southeast Asia, with a particular emphasis on Vietnam, Indonesia and Singapore. Southeast Asia is a large and growing market for us, exhibiting many of the strong investment themes and trends which have driven our China business over the last 25 years. This new fund, along with our growing team in Singapore and our recent successes in the region, will allow us to build our franchise further in Southeast Asia.”
