(Yicai Global) June 27 -- Global private equity firm Warburg Pincus has garnered USD4.25 billion for its new fund which is one of the largest dedicated pools of private equity capital targeting China and Southeast Asia.
The Warburg Pincus China-Southeast Asia II fund successfully closed, and it will focus on consumption, healthcare, property, finance and high tech, the New York-based firm said in a statement today.
The move shows that the company is rejigging its strategy in Asia. It has invested in the continent via its Warburg Pincus Global Growth that closed in late 2018 with USD14.8 billion, as well as Warburg Pincus China, its first China fund that raised USD2.2 billion in 2016. The company's current investments in China include fintech giant Ant Financial Services Group, online rental platform Ziroom, and assisted-reproduction firm Jinxin Fertility.
The Warburg Pincus China-SEA II involves new investors as well as old ones, most of whom have doubled or tripled their earlier investment, the firm said.
Warburg Pincus has invested more than USD11 billion in over 120 companies in China and Southeast Asia, said Zhang Lun and Wei Zhen, co-presidents of the company's Chinese unit. With the new fund, the firm will further cement its leading position in China and invest more in Southeast Asia, they added.
Editor: Emmi Laine