Warburg Pincus raises $4b global energy fund

The new vehicle, which launched in November 2013 and reached a first close in May 2014, will be a companion fund to Warburg Pincus Private Equity XI. That global vehicle closed in May 2013 at $11.2 billion.

Investors in the energy fund are largely drawn from Warburg Pincus' existing LP base, with strong representation from public and private pension funds, sovereign wealth funds, insurance companies, endowments, foundations and high net worth individuals.

Although the private equity firm has never raised an energy fund before, it has invested more than $9.5 billion in the space across 50 companies globally since inception. Ten of these companies now have enterprises values in excess of $1 billion, with six crossing the $4 billion threshold. Portfolio companies that are now listed include Antero Resources, Targa Resources, Kosmos Energy and Laredo Petroleum.

The new fund will focus primarily on exploration and production assets in North America, as well as Africa, Asia, Europe and Latin America. There will also be a focus on oilfield services, mining and power.

"Warburg Pincus has unparalleled experience and an unmatched global network in private equity investing in the energy sector. We have hone our approach over our decades of investing in the industry, enabling us to continue to find opportunities that will generate attractive rates of return for our investors," said Charles R. Kaye, the private equity firm's co-CEO, in a statement.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Save this article  
• Send to  

• Topics
• Fundraising
• North America
• Industrials
• USA
• Warburg Pincus Asia
• energy
• Fundraising
• Commodities