Warburg Pincus has raised $3 billion for its third fund dedicated to deals in the financial sector.
The vehicle, known as WP Financial Sector III, exceeded its initial target of $2.5 billion and marks Warburg’s largest-ever fund dedicated to the industry, according to a statement seen by Bloomberg News.
The fund is overseen by Warburg’s global co-heads of financial services, Dan Zilberman and Vishal Mahadevia. It will invest in banks, insurance, asset management, wealth management, specialty finance, payments and financial services-focused software, infrastructure and services.
Warburg’s closing of the fund bucks the trend of slowing private equity fundraising. A deal ...
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