Warburg Pincus said on Thursday that it had closed a new fund to invest in China and Southeast Asia at $4.5 billion.
The company launched the fundraising in January this year, targeting a fund size of $3.5 billion. It exceeded its expectations within six months.
This is Warburg Pincus’ second fund with a main focus on China. The fund will invest alongside the company’s global fund.
The firm's first China-SEA fund raised $2.2 billion in 2016. It invested in some very successful companies in the region such as Ant Financial. All of the first fund investors participated in the second fund.