Warburg Raises $12 Billion in First Round for Global PE Fund (1)

Warburg Pincus has collected about 70% of a $17 billion target so far for its latest global private equity vehicle, putting it on pace to beat its goal even as fundraising remains sluggish industrywide.

The private equity firm in recent days secured more than $12 billion in its initial round of fundraising within six months of formally launching the fund, according to people with knowledge of the matter.

Warburg Pincus declined to comment.

The prior iteration of that fund hit less than 50% of its target for the first close, which allows private equity managers to begin investing in a ...