Warburg Pincus, a global private equity firm focused on growth investing, closed a $2 billion fund focused on China.
Warburg Pincus China, L.P., will be a companion fund to Warburg Pincus Private Equity XII, L.P., a $13.4 billion global private equity fund that closed in late 2015.
Limited Partners include existing investors in Warburg Pincus’ funds and new investors to the firm, including public and private pension funds, sovereign wealth funds, insurance companies, endowments, foundations and high-net-worth individuals.
Led by Julian Cheng and and Frank Wei, Managing Directors and Co-Heads of China, the fund will continue Warburg Pincus’ thesis-driven, sector-focused approach to investing in China, partnering with entrepreneurs and management teams to build companies of sustainable value. Warburg Pincus China will focus on investing across sectors including Consumer, Healthcare, Real Estate, Energy and Industrials, Financial Services, and Technology, Media and Telecommunications (TMT).
Warburg Pincus’ select current investments in China include Amcare, ANE Logistics, China Huarong Asset Management, China Kidswant, D&J China, ESR Group, Evercare, Hygeia, Liepin, Mofang Apartment, UCAR Inc., Uxin Ltd. and ZTO Express, among others.
Notable recent partial and full exits include CAR Inc., a car rental company; 58.com, a lifestyle services platform; and China Biologic Products, a plasma-based biopharmaceutical company.