Warburg Pincus Lands $200 Million Pension Pledge Toward $2.5bn Fund Pitch

The Washington State Investment Board has given its stamp of approval to a new financial services-focused fund being raised by Warburg Pincus LLC.

Warburg is targeting $2.5bn for the new fund, Warburg Pincus Financial Sector II LP, the State Investment Board disclosed Thursday. The investment board, which manages about $140bn for state employees and other beneficiaries, approved a commitment of up to $200m to the fund.

Warburg Pincus is a leading investor in healthcare and technology, with significant expertise in venture capital and growth investing. Since its inception, the firm has invested in excess of $12bn and $22bn into healthcare and technology companies, respectively.

Source: WSJ