Warburg closes mega fund

Warburg Pincus has followed a number of large buyouts houses in defying uncertainty in the credit markets by raising US$15bn for its tenth buyout fund, Warburg Pincus Private Equity X.

The fund will be invested in early stage, growth and late-stage businesses across North America, Europe and Asia.

Warburg Pincus currently has more than US$35bn of assets under management.

Fund X follows Kohlberg Kravis Roberts, which raised US$17.6bn at the end of 2007 and Advent International, which closed its US$10.4bn global fund at the beginning of April, shortly after Apax Partners closed an €11bn fund. Blackstone is understood to be marketing a new global fund of approximately US$20bn, CVC Capital Partners is also believed to be raising a new global fund.