NEW YORK, Oct. 27, 2014 /PRNewswire/ -- Warburg Pincus
("the firm"), a leading global private equity firm focused on
growth investing, today announced the closing of Warburg Pincus
Energy, L.P. ("Warburg Pincus Energy") at $4
billion, surpassing its fundraising target of $3 billion and reaching the fund cap agreed with
investors. Warburg Pincus Energy will be a companion fund to
Warburg Pincus Private Equity XI, L.P., an $11.2 billion global private equity fund, which
closed in May 2013. Warburg Pincus Energy was launched in
November 2013 and held an
oversubscribed first close in May
2014.
Warburg Pincus Energy will focus primarily on energy exploration
and production ("E&P") investing in North America and across the globe including
Africa, Asia, Europe
and Latin America. In addition to E&P, Warburg Pincus
Energy will also pursue opportunities in the midstream, oilfield
services, mining and power sectors around the
world.
Warburg Pincus has been a leader in private equity energy
investing for more than 25 years. Since inception, the firm
has invested and committed more than $9.5
billion in more than 50 energy-related companies around the
world. This includes ten energy companies that have grown to
over $1 billion in enterprise value,
including six companies with enterprise values that exceed
$4 billion. On an aggregate
basis, Warburg Pincus has helped build energy companies with
combined enterprise values of more than $70
billion.
The firm's energy investments include Antero Resources (NYSE:
AR), which represented the largest IPO of an independent E&P
company, Targa Resources (NYSE: TRGP, NGLS), Kosmos Energy (NYSE:
KOS), Laredo Petroleum (NYSE: LPI), MEG Energy (TSX: MEG) and
Venari Resources. Many of the firm's energy investments have
utilized the line of equity approach that Warburg Pincus pioneered
two decades ago and have benefited from the firm's
Executive-in-Residence program.
"We are pleased to announce the final close of our energy
companion fund," said Joseph P.
Landy, Co-Chief Executive of Warburg Pincus. "This
successful fundraise reflects our strong track record and
experience in energy investing globally as well as significant
investor demand for the energy sector."
Warburg Pincus Energy's Limited Partners are primarily existing
investors in Warburg Pincus' funds include leading public and
private pension funds, sovereign wealth funds, insurance companies,
endowments, foundations and wealthy individuals.
"Warburg Pincus has unparalleled experience and an unmatched
global network in private equity investing in the energy
sector. We have honed our approach over our decades of
investing in the industry, enabling us to continue to find
opportunities that will generate attractive rates of return for our
investors," said Charles R. Kaye,
Co-Chief Executive of Warburg Pincus.
Peter Kagan, Managing Director,
Warburg Pincus, who leads the firm's energy group commented, "We
were very pleased by our investors' strong response to Warburg
Pincus Energy. This companion fund will increase our ability
to partner with experienced, best-in-class management teams to
build energy companies of scale."
About Warburg Pincus
Warburg Pincus LLC is a leading global private equity firm
focused on growth investing. The firm has more than $39 billion in assets under management. The
firm's active portfolio of more than 120 companies is highly
diversified by stage, sector and geography. Warburg Pincus is an
experienced partner to management teams seeking to build durable
companies with sustainable value. Founded in 1966, Warburg Pincus
has raised 13 private equity funds, which have invested more than
$50 billion in over 720 companies in
more than 35 countries.
For more than two decades, Warburg Pincus has invested or
committed over $9.5 billion across
more than 50 energy investments around the world involved in oil
and gas exploration and production, midstream, power generation,
oilfield technology and related-services, mining and alternative
energy development. Notable investments include Antero Resources
(NYSE: AR), Bill Barrett Corporation (NYSE: BBG), Broad Oak Energy,
Encore Acquisition Company, Kosmos Energy (NYSE: KOS), Laredo
Petroleum (NYSE: LPI), MEG Energy (TSX: MEG), Newfield Exploration
(NYSE: NFX), Spinnaker Exploration and Targa Resources (NYSE: TRGP,
NGLS).
The firm is headquartered in New
York with offices in Amsterdam, Beijing, Frankfurt, Hong
Kong, London, Luxembourg, Mumbai, Mauritius, San
Francisco, São Paulo and Shanghai. For more information please visit
www.warburgpincus.com.
Media Contacts
Americas
Ed Trissel,
Warburg Pincus, +1 212 878 9288,
ed.trissel@warburgpincus.com
Mary Zimmerman, Warburg Pincus, +1
212 878 9207, mary.zimmerman@warburgpincus.com
Europe
Sarah Gestetner, Warburg Pincus, +44 20 7 306
0377, sarah.gestetner@warburgpincus.com
Asia
Mingxia Li, Warburg Pincus, +86 (10) 5923 2569,
mingxia.li@warburgpincus.com
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/warburg-pincus-completes-4-billion-global-private-equity-energy-fundraise-207836159.html
SOURCE Warburg Pincus