Warburg-Pincus bought a 42% stake in high-yield manager New Flag Asset...

Warburg-Pincus bought a 42% stake in high-yield manager New Flag Asset Management, London, for $6.4 million, said Tom Daly, Warburg spokesman. "New Flag is a focused specialist in an unpopulated marketplace where credit appraising and investment skills will make a real difference to the returns investors receive in this asset class,” said Adam Barron, Warburg vice president.