Warburg Pincus, the global private equity firm focused on growth investing, closed Warburg Pincus China-Southeast Asia II, L.P., at $4.25 billion.
Warburg Pincus China-SEA II is a $4.25bn companion fund that will invest in Chinese and Southeast Asian portfolio companies alongside Warburg Pincus Global Growth, L.P., a $14.8 billion global, growth-focused private equity fund that closed in late 2018.
Warburg Pincus China-SEA II is also the successor fund to Warburg Pincus China, L.P., a $2.2bn companion fund that closed in December 2016.
Within China, Warburg Pincus is known as Hua Ping (华平).
Launched in January 2019, the Warburg Pincus China-SEA II fund received commitments from limited Partners including a diversified mix of public and private pension funds, sovereign wealth funds, insurance companies, endowments, foundations, fund of funds, family offices and high-net-worth individuals.
This new fund will continue Warburg Pincus’ thesis-driven, sector-focused approach to growth investing in China and Southeast Asia, partnering with entrepreneurs and management teams to build companies of scale and sustainable value.
It will focus on investing across five sectors:
– Consumer and Services,
– Real Estate,
– Financial Services, and
– Technology, Media and Telecommunications (TMT).
The firm’s select current investments in China and Southeast Asia include Amcare, ANE Logistics, Ant Financial, ARA, China Kidswant, D&J China, ESR Group, Go-Jek, Hygeia, Jinxin Fertility, Liepin, Mofang, NIO, Vincom Retail, Yuanfudao, and ZTO Express, among others.
The vehicle is led by Julian Cheng, and Frank Wei, Managing Directors and Co-Heads of China, and Jeff Perlman, Managing Director and Head of Southeast Asia.