Warburg Pincus closes $4.25b fund focused on China, Southeast Asia

Global private equity company Warburg Pincus said it closed its US$4.25 billion Warburg Pincus China-Southeast Asia II fund.

Photo credit: Steve Buissinne

The fund will invest in Chinese and Southeast Asian companies alongside the US$14.8 billion Warburg Pincus Global Growth fund, which closed in 2018.

“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,” Jeff Perlman, managing director and head of Warburg Pincus’ Southeast Asia operations, said.

The new fund’s focus sectors include consumer and services, health care, real estate, financial services, as well as technology, media, and telecommunications.

Warburg Pincus China-Southeast Asia II, which targeted a fund size of US$3.5 billion, received commitments in excess of its US$4.25 billion hard cap.

The limited partners for the Warburg Pincus China-Southeast Asia fund include a mix of existing investors in its current funds and new investors in the firm, the company said in a statement.

Warburg Pincus’ current investments in China and Southeast Asia include Alibaba fintech arm Ant Financial, Indonesian unicorn Gojek, and Vietnamese shopping mall operator Vincom Retail, among others.