Warburg Pincus raised $12 billion for its latest private equity fund, Warburg Pincus Private Equity XII, meeting the fund’s hard cap, said a spokeswoman.
Firm executives began raising the fund in May. The new fund exceeds the $11.2 billion Warburg Pincus Private Equity XI, which closed in 2011. Both funds are smaller than Warburg Pincus Private Equity X, which closed with $15 billion in committed capital in 2007.
The fund was oversubscribed, according to a person familiar with fund.
Investors in the new fund include the $106.9 billion Washington State Investment Board, Olympia; $77 billion Minnesota State Investment Board, St. Paul; $11.9 billion New Mexico Educational Retirement Board, Santa Fe; $1.8 billion Louisiana Municipal Police Employees Retirement System, Baton Rouge; and $627 million Oklahoma City Employee Retirement System.