Warburg Pincus chief says firm realised about $12 billion in exits year-to-date
CEO Jeffrey Perlman said Warburg Pincus has realised roughly $12 billion in exits year-to-date, compared with $12 billion last year, at SuperReturn Asia in Singapore.
(Adds background and quote in paragraphs 3-6) SINGAPORE, Sept 29 (Reuters) — Private equity firm Warburg Pincus has realised roughly $12 billion in exits from investments this year, its chief executive said on Tuesday, putting it on course for a record return. The figure compares with a record $12 billion that the New York-headquartered firm realised last year, CEO Jeffrey Perlman said at the SuperReturn Asia conference in Singapore. 3 billion for its flagship global growth fund. Perlman made no mention of a new fund being raised.
The global backdrop has been challenging for private equity funds as jittery equity markets and a selloff in software stocks, one of the sector's favourite targets, have been roadblocks for exits via listing publicly. "This year, obviously, you can't sell the software businesses so easily," Perlman said. Warburg Pincus' two biggest exits, he said, were Consolidated Precision Products, an aerospace supplier sold to GE Aerospace, and Ensemble Health Partners, partially sold to investment firm Thoreau. com;)