Warburg Pincus, a global private equity firm, closed its 11th fund, the $11.2 billion Warburg Pincus Private Equity XI, one of the largest private equity funds raised since the financial crisis, according to Ed Trissel, Warburg Pincus spokesman.
The fund fell just shy of its $12 billion fundraising target, but firm executives made good on their promise to hold a final close on the fund within one year of its May 2012 first close.
The fund will invest in growth companies in five industry sectors: energy; financial services; health care; technology, media and telecommunications; and consumer, industrial and services.
Many investors in the new fund come from outside the U.S, according to a news release. Investors are public and private pension funds, sovereign wealth funds, insurance companies, endowments, foundations and wealthy individuals. They include the $72.5 billion New Jersey Division of Investment, Trenton, and $1.9 billion Oklahoma Police Pension & Retirement System, Oklahoma City.