Warburg Pincus closed its latest private equity fund, the $4 billion Warburg Pincus Energy Fund, surpassing its $3 billion target and hitting its hard cap, said Ed Trissel, Warburg Pincus spokesman.
The fund is expected to invest primarily in energy companies located around the world. The new fund will be a companion fund to $11.2 billion Warburg Pincus Private Equity XI, which closed in May 2013.
Investors in the energy fund include the State of Wisconsin Investment Board, Madison, which oversees $104.1 billion in assets; $104 billion Washington State Investment Board, Olympia; and $6.8 billion Alameda County Employees' Retirement Association, Oakland, Calif. All three pension funds also made commitments to Warburg Pincus Private Equity XI.
