Warburg Plans $15 Billion Buyout Fund That Shuns Fossil Fuels

Warburg Pincuswill seek $15 billion for its next global buyout fund as it shifts away from fossil-fuel investments, according to people familiar with the matter.

The private equity firm aims to begin marketing the fund by Labor Day, said the people, who asked not to be identified because the information is private. The new fund will invest in renewables and energy technology, a shift from earlier funds that focused on oil and gas, which have been a drag on the portfolio, the people said.

Kerrie Cohen, a spokeswoman for the New York-based firm, declined to comment.

Warburg, which ...