Private equity firm Warburg Pincus said this morning it raised $15 billion for a global fund, at a time when buyouts and mergers are facing a tough time amid a deep global credit crisis.
The fund will be invested in line with the private equity firm's focus on businesses across North America, Europe and Asia, Warburg Pincus said in a statement.
Investors in the fund include the Washington State Investment Board and GE Asset Management and first-time investors such as the Universities Superannuation Scheme and the Teacher Retirement System of Texas.
More than 40 per cent of its investments are currently outside the United States, according to the firm, which has over $35 billion of assets under management.