Warburg Pincus has raised more than $12bn in the first close of its latest global private equity vehicle, putting the firm on track to exceed its $17bn target despite a challenging fundraising environment for the sector, according to a report by Bloomberg.
The report cites unnamed sources familiar with the mater as revealing that the initial round of commitments was secured within six months of the fund’s formal launch.
This marks a stronger start than the previous iteration of the fund, which collected less than half of its target at first close before ultimately raising $17.3bn in 2022, its largest-ever fundraise. The new fund will continue Warburg’s focus on global buyouts and growth investments.
Jeffrey Perlman, who assumed the role of CEO last year, taking over from longtime leader Chip Kaye, is overseeing the fundraising effort. The firm has generated nearly $11bn in realisations so far in 2025, slightly ahead of the $10.3bn recorded in 2024, underscoring its ongoing portfolio performance.
Warburg Pincus manages more than $85bn in assets across more than 215 active portfolio companies. Alongside the main vehicle, the firm is also raising a new secondaries fund aimed at backing continuation vehicles from other private equity firms, a trend that has grown as firms seek to provide liquidity to investors while retaining portfolio assets. Continuation funds accounted for nearly 20% of deal exits in the first half of 2025, up from 13% for all of 2024.
