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Warburg Pincus

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Warburg Pincus LLC
TypePrivate
IndustryPrivate equity
Founded1966; 60 years ago (1966)
Founders
Headquarters450 Lexington Avenue
New York City, New York, U.S.
Key people
[1]
Products
AUMUS$100 billion (2026)[2][3]
Number of employees
775 (2024)[2]
Websitewarburgpincus.com

Warburg Pincus LLC is an American multinational private equity firm based in New York City, with offices in the United States, Europe, Brazil, China, Japan, the Middle East, Southeast Asia and India.[4][5] One of the oldest in the world, it has been a private equity investor since 1966.[6][7][2]

As of March 2026, the company had over $100 billion in assets under management and invests in a range of sectors including retail, industrial manufacturing, energy, financial services, health care, technology, media, and real estate.[8][2] A growth investor,[9] Warburg Pincus has raised 22 private equity funds, two real estate funds and one capital solutions fund, which have invested over $130 billion in more than 1,100 companies across 45 countries.[3][10][11]

In June 2024, Warburg Pincus was ranked ninth in Private Equity International's PEI 300 ranking of the largest private equity firms in the world.[6][12]

History

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Founding and early history

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In 1939, Eric Warburg of the Warburg banking family founded a company under the name E.M. Warburg & Co. Its first address was 52 William Street, New York, the Kuhn Loeb building. Throughout the early post-war period, the firm was a small office of 20 employees. In 1966, E.M. Warburg merged with Lionel I. Pincus & Co, forming a new company that eventually became known as E.M. Warburg, Pincus & Co.[13] In 1965, when Eric Warburg retired to Germany, control was handed to Lionel Pincus, a partner in the Ladenburg Thalmann investment bank, and the working language of the office switched from German to English.

In 1967, John Vogelstein, a former partner at Lazard Freres, joined Pincus to build the firm.[14] Together they developed a strategy of investing in diversified companies of various sizes rather than focusing on start-ups.[15] Pincus was the founder and chairman[16] while Vogelstein was vice chairman[17] and then president.[18][19] Pincus and Vogelstein ran the company until 2002, when they stepped down and appointed Charles Kaye and Joseph P. Landy as co-presidents.[15][17] Pincus died in 2009.[14]

Warburg Pincus began investing in Europe in 1983[20] and opened its first office in Asia in 1994. It has invested more than $5 billion in Europe; more than $3 billion in India[21] and more than $3.3 billion in China. The firm is headquartered in New York and has offices in Beijing, Berlin, Hong Kong, Houston, London, the Middle East, Mumbai, San Francisco, São Paulo, Shanghai, Singapore and Tokyo, with administrative offices in Amsterdam, Luxembourg and Mauritius.

The firm is structured as a global partnership led by chief executive officer Jeffrey Perlman, who was promoted from president to CEO in 2024. Charles R. "Chip" Kaye, who was CEO for 22 years, transitioned to co-chairman alongside Timothy Geithner.[1]

Initial public offerings

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As of July 2025, its portfolio companies had completed more than 190 initial public offerings on more than 24 exchanges.[22][23] In August 2010, a six-year partnership between management and Warburg Pincus led to MEG Energy's successful IPO.[24][25]

Funds

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Warburg Pincus has a history of venture capital investing. The firm is a founding member of the venture capital associations in the U.S. and China, and offers a global entrepreneur in residence program to help start up new businesses.[26]

In October 2014, Reuters reported that Warburg Pincus had raised $4 billion for its first energy-focused private equity fund.[27] In late 2018, Warburg Pincus closed its Warburg Pincus Global Growth, L.P. fund at $14.8 billion, and in June 2019, closed its Warburg Pincus China-Southeast Asia II, L.P. fund at $4.25 billion.[28]

In April 2023, Warburg Pincus and ArchiMed agreed to sell the France-headquartered business Polyplus to life science group Sartorius for approximately €‎2.4 billion.[29]

Fight over the Warburg name

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During the post-war period, Eric Warburg vied with his cousin Siegmund Warburg, founder of S.G. Warburg, over the use of the Warburg name in New York. Siegmund wished to expand the S.G. Warburg franchise into New York but was blocked by the existence of E.M. Warburg & Co. Following the effective sale of the business to Pincus, Siegmund Warburg accused Eric of prostituting the Warburg name. "Complicating matters was that Siegmund thought Pincus the wrong kind of Jew—of Eastern European ancestry, with a garment-district background. Professionally, he thought Pincus well below haute banque stature in the venture capital world."[30]

In January 1970, Siegmund finally got the name changed to E.M. Warburg, Pincus & Company to differentiate it from S.G. Warburg & Company. "In the end, however, Lionel Pincus had the last laugh on Siegmund. He expanded Eric's tiny firm into a giant, thriving business, with three and a half billion dollars of venture capital partnerships."[30]

In 1999, they attempted to purchase English Premier League association football club Everton.[31]

Investment funds

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Fund Vintage Year Capital ($m)
Warburg Pincus Ventures International, L.P.[10][32] 1997 $800
Warburg Pincus International Partners, L.P.[10] 2000 $2,500
EMW Ventures Inc.[33][10] 1971 $41
Warburg Pincus Private Equity VIII, L.P.[34][10] 2001 $5,300
Warburg Pincus Private Equity IX, L.P.[35][36] 2005 $8,000
Warburg Pincus Real Estate I, L.P.[37][38] 2006 $1,200
Warburg Pincus Private Equity X, L. P.[39] 2007 $15,100
Warburg Pincus Private Equity XI, L.P. 2012 $11,200
Warburg Pincus Energy, L.P.[40] 2014 $4,000
Warburg Pincus Private Equity XII, L.P.[41][42] 2015 $13,400
Warburg Pincus China, L.P.[43] 2016 $2,000
Warburg Pincus Financial Sector, L.P.[41] 2017 $2,300
Warburg Pincus Global Growth, L.P.[44][45] 2018 $14,800
Warburg Pincus China-Southeast Asia II L.P. 2019 $4,250
Warburg Pincus Asia Real Estate Fund, L.P.[46] 2021 $2,800
Warburg Pincus Financial Sector II, L.P.[47][48] 2021 $2,600
Warburg Pincus Global Growth 14, L.P.[49][50] 2023 $17,300
Warburg Pincus Capital Solutions Founders Fund, L.P.[51] 2024 $4,000
Warburg Pincus Financial Sector III, L.P.[52] 2026 $3,000

Acquisition, partnership and merger

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Warburg Pincus invested in the information and communication technology sectors, including investments in Avaya, Bharti Tele-Ventures, Harbour Networks, NeuStar, PayScale, and Telcordia.[53][54][55][56][57][58]

Warburg Pincus has invested in companies such as CityMD, The Summit Medical Group, Harbin Pharmaceutical,[59] Venari Resources, NIO, ZTO Express[60] in China and South East Asia, Bharti Telecommunications, Apollo Tyres Ltd,[61] Ecom Express,[62] SBI General Insurance[63] in India, AmRest in Poland[64] and Nuance Communications in the U.S.[65] In 2019, the firm acquired a majority stake in healthcare tech company WebPT from Battery Ventures.[66]

In May 2024, Warburg Pincus acquired Shriram Housing Finance at Rs 4,630 crore.[67][68]

In August 2024, Warburg Pincus and Australian real estate group Lendlease reached the final close of a joint venture platform, each committing 50% of the co-investment capital, focused on life sciences and research-and-development real estate in the Asia-Pacific region; the platform was later named Vita Partners.[69][70] In the same month, Warburg Pincus made a $100 million investment into Miami International Holdings, a major exchange operator in the U.S.[71]

In October 2024, Warburg Pincus invested $125 million in Contabilizei, Brazil's leading accounting firm. The deal made Warburg Pincus Contabilizei's largest shareholder, acquiring stakes from venture capital funds including Kaszek, which had invested in Contabilizei since 2014.[72][73]

In January 2025, Warburg Pincus entered into a $300 million strategic partnership with Mashura, a leading inventory intelligence platform in healthcare.[74][75]

On 10 March 2025, Warburg Pincus announced that D&D Investment, a subsidiary asset manager of SK D&D, one of Korea's largest multi-family businesses and developers, has signed a joint agreement to invest in the Korean senior housing market. Through this partnership, the company will focus on securing and developing housing for the elderly in the Seoul metropolitan area.[76][77]

In October 2025, Warburg Pincus agreed to acquire German infrastructure software company PSI AG for more than €700 million ($813.26 million). The deal values PSI at €45 per share, which was a 50% premium on the stock price at the time. PSI will remain headquartered in Berlin.[78]

In December 2025, Warburg Pincus and Permira agreed to acquire software-as-a-service (SaaS) fintech company Clearwater Analytics in an $8.4 billion deal.[79]

See also

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References

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  1. 1 2 Stewart, Robb M. (July 17, 2024). "Warburg Pincus Names Veteran Jeffrey Perlman CEO, Succeeding Kaye". The Wall Street Journal. Retrieved May 21, 2026.
  2. 1 2 3 4 Hosking, Patrick (June 29, 2025). "Unity Advisory secures $300m war chest to fight Big Four". The Times. Retrieved November 10, 2025.
  3. 1 2 "Warburg Pincus | Institution Profile | Private Equity International". www.privateequityinternational.com. Retrieved June 1, 2026.
  4. ↑ Appell, Douglas. "Warburg Pincus closes China-Southeast Asia companion fund at $4.25 billion". PIOnline.com. Retrieved October 27, 2019.
  5. ↑ Raghuvanshi, Gurav (May 17, 2016). "Warburg Pincus Opens Office in Singapore". WSJ.com. Retrieved October 27, 2019.
  6. 1 2 "PEI 300 | The Largest Private Equity Firms in the World". Private Equity International. June 3, 2024. Retrieved June 4, 2024.
  7. ↑ Daniel Fisher (September 4, 2013). "Warburg Pincus: The Merchant Of Modest". Forbes.
  8. ↑ "Aetion closes $110M Series C funding round led by Warburg Pincus". aetion.com. May 11, 2021. Retrieved November 19, 2024.
  9. ↑ Michael J. De La Merced (May 10, 2013). "Warburg Pincus Closes Latest Fund at $11.2 Billion". The New York Times.
  10. 1 2 3 4 5 "Funds | Warburg Pincus". warburgpincus.com. November 24, 2019. Retrieved August 27, 2024.
  11. ↑ "Warburg Pincus to invest $210 mn in medical devices firm Micro Life Sciences". VCCircle. Retrieved November 19, 2024.
  12. ↑ Beer, Helen de (June 3, 2024). "Blackstone holds PEI 300 top spot". Private Equity International. Retrieved June 4, 2024.
  13. ↑ Bansal, Paritosh (October 11, 2009). "Warburg Pincus founder Lionel Pincus dies". Reuters.
  14. 1 2 Fabrikant, Geraldine (October 11, 2009). "Lionel Pincus, Who Helped Bring Investors to Private Equity, Dies at 78". The New York Times. Retrieved October 3, 2020.
  15. 1 2 "We'll Do It Our Way". Forbes. April 21, 2006. Retrieved October 3, 2020.
  16. ↑ "Lionel Pincus, 78, founder, chairman of Warburg Pincus". Boston Globe. Associated Press. October 13, 2009. Retrieved October 3, 2020.
  17. 1 2 Lattman, Peter; Miller, Stephen (October 13, 2009). "Wall Street Leader Helped Shape Private-Equity Arena". The Wall Street Journal. Retrieved October 3, 2020.
  18. ↑ Harmetz, Aljean (February 10, 1982). "Orion Group Gets Filmways". The New York Times. Retrieved October 3, 2020.
  19. ↑ Janeway, William H. (May 17, 2018). Doing Capitalism in the Innovation Economy (2 ed.). Cambridge University Press. p. 91. ISBN 978-1108471275. Retrieved October 3, 2020.
  20. ↑ "Why Warburg Pincus has been piling into European telecoms and tech". fnlondon.com. September 29, 2021.
  21. ↑ Shraddha Nair (December 4, 2011). "Niten Malhan & Vishal Mahadevia – We would like to be specialists". LiveMint.com.
  22. ↑ Warburg Pincus Access Fund, L.P. (2025). "Form 10 General Form for Registration of Securities". U.S. Securities and Exchange Commission. Retrieved June 11, 2026.
  23. ↑ "KKR, Warburg Pincus, Farallon and Capital Group Private Markets Make Substantial Investment in GO-JEK". Business Wire. August 4, 2016. Archived from the original on August 21, 2019.
  24. ↑ McCarthy, Shawn (June 16, 2011). "Scouting for capital: A case study on oil patch financing". The Globe and Mail. Retrieved June 9, 2026.
  25. ↑ "MEG Energy Closes $700M IPO". Lexpert. November 1, 2010. Retrieved June 9, 2026.
  26. ↑ Khullar, Arshiya (December 3, 2018). "Warburg Pincus bets on entrepreneurship". PERENews. Retrieved October 27, 2019.
  27. ↑ Greg Roumeliotis (October 27, 2014). "Warburg Pincus raises $4 billion private equity fund for energy". Reuters.
  28. ↑ Kreutzer, Laura (June 26, 2019). "Warburg Tilts to Southeast Asia With New $4.25 Billion Fund". WSJ PRO Private Equity. Retrieved October 27, 2019.
  29. ↑ Farman, Madeleine (April 4, 2023). "ArchiMed scores 300x return for debut fund with Polyplus exit". Private Equity International. Retrieved April 6, 2023.
  30. 1 2 Ron Chernow (1994). The Warburgs: The Twentieth-Century Odyssey of a Remarkable Jewish Family. Knopf Doubleday Publishing Group. ISBN 978-0-679-74359-0.
  31. ↑ "Everton takeover bid accepted". BBC News. October 16, 1999. Retrieved January 6, 2010.
  32. ↑ "2022 Private Equity" (PDF). Colorado PERA. Retrieved September 10, 2024.
  33. ↑ "EMW Ventures Expands In $27.5‐Million Stock Sale". The New York Times. October 12, 1971. ISSN 0362-4331. Retrieved August 30, 2024.
  34. ↑ "Warburg Pincus VIII exceeds target". Private Equity International. December 29, 2012. Retrieved August 27, 2024.
  35. ↑ "Warburg Pincus Closes $8 Billion Global Private Equity Fund - Global Custodian". www.globalcustodian.com. Retrieved August 29, 2024.
  36. ↑ Harris, Jennifer (January 4, 2013). "Warburg Pincus holds $9bn first close(2)". Private Equity International. Retrieved August 29, 2024.
  37. ↑ "Warburg Pincus raises $1.2bn for real estate fund". Real Assets. Retrieved August 23, 2024.
  38. ↑ "Warburg Pincus gets real". Private Equity International. January 3, 2013. Retrieved August 23, 2024.
  39. ↑ "EXCLUSIVE Warburg Pincus seeks $16 billion for private equity fund -sources". Reuters. September 16, 2016. Retrieved August 19, 2024.
  40. ↑ "Warburg Pincus completes USD4bn global private equity energy fundraise". Private Equity Wire. October 28, 2014. Retrieved August 19, 2024.
  41. 1 2 "Warburg Pincus closes USD2.3bn financial services fund". Private Equity Wire. December 19, 2017. Retrieved August 20, 2024.
  42. ↑ Ju, Annabelle (November 23, 2015). "Warburg Pincus closes Fund XII above $12bn". Private Equity International. Retrieved August 20, 2024.
  43. ↑ "Private equity firm Warbug Pincus raises $2 billion China fund". Reuters. December 14, 2016. Retrieved August 19, 2024.
  44. ↑ "Warburg Pincus Global Growth Fund raises $14.8bn | Unquote". www.unquote.com. November 19, 2019. Retrieved August 16, 2024.
  45. ↑ "Warburg Pincus raises $15.4bn for new flagship PE fund". Private Equity Wire. January 30, 2023. Retrieved September 5, 2024.
  46. ↑ "Warburg Pincus closes inaugural Asia real estate fund at USD2.8bn". Private Equity Wire. December 22, 2021. Retrieved August 16, 2024.
  47. ↑ "Funds | Warburg Pincus". warburgpincus.com. November 24, 2019. Retrieved August 22, 2024.
  48. ↑ Cumming, Chris (June 18, 2021). "Warburg Pincus Lands $200 Million Pension Pledge Toward $2.5 Billion Fund Pitch". The Wall Street Journal. Retrieved August 22, 2024.
  49. ↑ "Warburg Pincus | Institution Profile | Private Equity International". www.privateequityinternational.com. Retrieved August 16, 2024.
  50. ↑ "Warburg Pincus closes PE fund above target at $17bn". Private Equity Wire. October 10, 2023. Retrieved September 5, 2024.
  51. ↑ "Mashura announces strategic partnership with Warburg Pincus". dvm360. February 6, 2025. Retrieved June 9, 2026.
  52. ↑ "Warburg Pincus Closes on $3.0 Billion Financial Services Fund". warburgpincus.com. January 7, 2026. Retrieved June 9, 2026.
  53. ↑ Shah, Sneha (July 13, 2017). "Warburg Pincus puts Rs 700 crore in CleanMax". The Economic Times.
  54. ↑ "CleanMax Solar Announces Equity Financing of USD 100 Million from Warburg Pincus" (PDF). Archived from the original (PDF) on December 26, 2018. Retrieved July 17, 2017.
  55. ↑ "Warburg Pincus investing up to $100 mn in CleanMax Solar". VCCircle. July 13, 2017.
  56. ↑ Cook, John (April 24, 2014). "Salary report generator PayScale getting up to $100M in deal led by Warburg Pincus". GeekWire. Retrieved May 7, 2014.
  57. ↑ "Telcordia Ericsson closes Telcordia acquisition". Reuters. January 12, 2012. Archived from the original on January 16, 2012.
  58. ↑ "Warburg Pincus Investments". Warburg Pincus LLC. Archived from the original on March 17, 2015. Retrieved February 11, 2012.
  59. ↑ "Warburg Pincus takes 22.5 pct stake in China's Harbin Pharmaceutical – report" (PDF). Forbes.com. November 6, 2005.
  60. ↑ "Warburg Pincus announces new $4.25 billion fund for China and Southeast Asia". Tech Crunch. June 27, 2019.
  61. ↑ "Warburg continues to bet big on India". Livemint. March 5, 2020.
  62. ↑ "Warburg Pincus to invest Rs 850 crore in Ecom Express". Economic Times. June 4, 2015.
  63. ↑ "CCI nod for Napean, Warburg Pincus stake buy in SBI General Insurance". The Hindu Business Line. December 13, 2019.
  64. ↑ "Warburg Pincus in PLN 307.2m PIPE for AmRest". Unquote.com. April 26, 2010.
  65. ↑ "Warburg Pincus invests $175m in Nuance". Boston.com. January 15, 2009.[dead link]
  66. ↑ "Warburg Pincus acquires majority stake in WebPT". Healthcare IT News. August 27, 2019. Retrieved November 19, 2024.
  67. ↑ "Warburg Pincus Makes Landmark Acquisition of Shriram Housing Finance". Bru Times News.
  68. ↑ "Warburg Pincus wins a heated race for Shriram Group's housing finance biz". MINT. May 13, 2024.
  69. ↑ 조선비즈 (August 2, 2024). "글로벌 PE 워버그핀커스, 렌드리스와 JV 설립…아시아태평양 공략". 조선비즈 (in Korean). Retrieved January 10, 2025.
  70. ↑ Mingtiandi (August 5, 2024). "Warburg Pincus, Lendlease Reach Final Closing of APAC Life Sciences JV". Mingtiandi. Retrieved June 9, 2026.
  71. ↑ "MIAX-Parent Miami International Receives $100 Million Investment From Warburg Pincus". Reuters via U.S. News & World Report. August 22, 2024. Retrieved April 14, 2026.
  72. ↑ "Warburg Pincus Acquires Minority Stake in Contabilizei for $125 Million | Warburg Pincus". warburgpincus.com. October 11, 2024. Retrieved February 27, 2025.
  73. ↑ "Deal Wrap: Warburg invests $125M in Contabilizei; Ant Capital to exit Rasin". S&P Global Market Intelligence. October 11, 2024. Retrieved June 9, 2026.
  74. ↑ "Mashura Announces $300M Strategic Partnership with Warburg Pincus | Warburg Pincus". warburgpincus.com. January 7, 2025. Retrieved February 27, 2025.
  75. ↑ "Mashura Secures $300M from PE Firm Warburg Pincus". HIT Consultant. January 7, 2025. Retrieved June 9, 2026.
  76. ↑ "Warburg Pincus, SK D&D, and D&D Investment Establish Partnership to Invest in Senior Housing in South Korea | Warburg Pincus". warburgpincus.com. March 9, 2025. Retrieved March 13, 2025.
  77. ↑ "Warburg Pincus ventures into South Korea's senior housing market". DealStreetAsia. March 10, 2025. Retrieved June 9, 2026.
  78. ↑ "Warburg Pincus to buy Germany's PSI for over 700 million euros". Reuters. October 13, 2025. Retrieved December 19, 2025.
  79. ↑ Vinn, Milana (December 21, 2025). "Permira, Warburg to buy Clearwater Analytics for $8.4 billion". Reuters.
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