Warburg Pincus Tops $2 Billion for Capital Solutions Fund (1)

Warburg Pincus raised more than $2 billion for its first dedicated fund to hand capital to companies looking for cash amid a deal drought and a higher-rate environment.

The firm held its first close this month for the capital solutions strategy after starting fundraising in January with a target of $1.5 billion, according to a person familiar with the matter, asking not to be identified discussing confidential matters.

That strategy will provide financing such as convertible preferred equity and debt to companies facing liquidity or capital structure pressure. Warburg has made capital solutions investments through its private equity funds in ...