Warburg Pincus has returned nearly $10bn to investors so far in 2025, hitting a firm-wide record for realisations in the first half of the year, according to a report by Bloomberg citing unnamed people familiar with the matter.
The private equity firm has been actively offloading assets to a combination of strategic and sponsor buyers, with recent transactions including: ModMed, a health records software provider, which was sold to Clearlake Capital; Neogov, an HR software business, sold to EQT AB and Canada Pension Plan Investment Board; and Sundyne, a pumps and compressors manufacturer, sold to Honeywell International.
Including these and other exits, Warburg has realised roughly $42bn since 2022, compared with $25bn deployed in new investments over the same period, according to the sources.
The realisations come amid a more challenging market for private equity exits, with firms facing pressure to deliver capital back to investors while maintaining valuation standards. Many PE groups have increasingly turned to continuation funds or minority stake sales to manage harder-to-sell assets, though not all investors have embraced these strategies.
For Warburg, securing multiple full exits this year strengthens its position in discussions with LPs regarding allocations to future funds. The firm, founded in the 1960s, raised $17.3bn for its last flagship vehicle in 2023.
