Warburg VIII Nabs $2.8B

Warburg Pincus & Co. said last week that it had held a $2.8 billion first close on Warburg Pincus Private Equity VIII LP. The fund is expected to eventually hold a $5 billion final close, and serve as a follow-up to 1998?s $5 billion Fund VII.

Warburg is reportedly using the placement arm of Credit Suisse First Boston, which owns a 20% stake in the firm?s management company. Merrill Lynch placed Warburg?s previous two funds.

Last October, the firm closed a $2.5 billion international side fund.