Warburg Pincus closed its largest-ever fund, Warburg Pincus Global Growth 14, at $17.3 billion, which is 13% larger than its previous global flagship fund, Warburg Pincus Global Growth, according to an Oct. 10 news release.
Firm executives began raising WPGG 14 in 2021. Warburg Pincus Global Growth closed with $15 billion in 2018.
Investments made by the fund to date include Simtra BioPharma Solutions (formerly Baxter's BioPharma Solutions business), Ensemble Health, EverBank, Internet Brands, Norstella, Oona Insurance, ParetoHealth and Watertec India.
"The overwhelming success of this fundraise was driven by strong support from both existing and new investors," said Warburg Pincus CEO Chip Kaye in the release.
Investors in the fund are a mix of public and private pension funds, sovereign investors, insurance companies, endowments, foundations, funds of funds, family offices and high net worth individuals. Institutional limited partners in the fund include the $155.7 billion Washington State Investment Board, Olympia; $134.7 billion Minnesota State Board of Investment, St. Paul; $25.6 billion Kansas Public Employees Retirement System, Topeka; $16.7 billion New Mexico Public Employees Retirement Association, Santa Fe; $13.3 billion Louisiana State Employees' Retirement System, Baton Rouge; $11.9 billion New Hampshire Retirement System, Concord; $3 billion Oklahoma Police Pension & Retirement System, Oklahoma City; and $2.1 billion Anne Arundel County Retirement and Pension System, Annapolis, Md.