Warburg Pincus raises US$4.25bn for China, Southeast Asia fund

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US private equity firm Warburg Pincus has raised US$4.25bn in the final closing of its China-Southeast Asia II fund that will invest in companies across real estate, healthcare, technology and other sectors across China and Southeast Asia.

Warburg Pincus China-SEA II initially targeted US$3.5bn at its launch in January, but received investor commitments in excess of its US$4.25bn hard cap, the firm said.

The new fund will invest alongside Warburg Pincus Global Growth, a US$14.8bn global private equity fund closed in late 2018, and focus on companies in the consumer and services, healthcare, real estate, financial services, and technology, media
and telecommunications sectors.

Warburg Pincus’ current investments in China and Southeast Asia include real estate fund manager ARA and pan-Asian logistics platform ESR, among others.

Warburg Pincus co-CEOs Charles R. Kaye and Joseph P. Landy said the firm expanded into China 25 years ago and had entered Southeast Asia in more recent years.

“We have now invested more than $11bn into more than 120 companies in China and Southeast Asia, generating significant returns and distributions for our investors,” they said in a statement.

The firm sees continued growth opportunities in mobility, consumption, urbanisation, mobile technology, healthcare, and the ongoing evolution of the financial sector, noted Frank Wei, managing director and co-head of China at Warburg Pincus.

The firm has become one of the largest and most active investors in Southeast Asia in recent years, with an emphasis on Vietnam, Indonesia and Singapore, added Jeff Perlman, managing director and head of Southeast Asia at Warburg Pincus.

New York-headquartered Warburg Pincus has a portfolio of over 180 companies, with more than US$62bn in private equity assets under management.

Founded in 1966, the firm has raised 19 private equity funds that have invested over $74bn in 860-plus companies globally.