Fund Friday: Top fundraising news in private equity

Warburg Pincus has gathered more than $12bn for the first close of its new global private equity fund, securing about 70% of its $17bn target within six months of launching the vehicle, according to a report by Bloomberg.

The early momentum puts the fund on track to surpass its goal, despite a slower fundraising environment in which many buyout firms have struggled to reach first-close thresholds. Warburg Pincus’ previous global fund reached a first close with less than half of its target before going on to collect $17.3bn in 2022.

The firm has continued to deploy and return capital despite muted M&A activity, generating almost $11bn in realizations so far this year, compared with $10.3bn for all of 2024. Warburg Pincus manages more than $85bn and holds more than 215 companies in its active portfolio.

KKR is aiming to close its second Asia-focused private credit fund in December as the firm expands its lending footprint across the region.

The vehicle, the Asia Credit Opportunities Fund II, is targeting around $2bn and focuses on performing credit opportunities with expected returns in the low-to-mid-teens.

The fund began raising capital in January 2024 and builds on KKR’s first Asia Pacific credit fund, which closed at $1.1bn in 2022 with more than half of its commitments coming from Asia.

CPP Investments reported net assets of C$777.5bn at the end of the second quarter of fiscal 2026, up from C$760.5bn in the previous quarter.

The Fund delivered a net return of C$17bn, or 2.7%, driven by strong performance in public markets and credit.

Public Market Investments generated a 5.8% return, supported by listed equities and credit income. Active Equities returned 4.5%, while Capital Markets and Factor Investing returned 3.4%. Credit Investments delivered a 5.8% gain. Private equity recorded a -4.5% return as valuations declined across several portfolio companies.