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Nov. 7 (Bloomberg) -- Warburg Pincus LLC said Scott Arenare, who joined the private-equity firm as general counsel in 1998, is leaving for a new business opportunity.

Robert Knauss, previously a partner at Munger Tolles & Olson LLP in Los Angeles, will replace Arenare and oversee the firm’s legal and regulatory matters, according to a statement today from New York-based Warburg Pincus, which didn’t give details on Arenare’s new job. Arenare was a member of Warburg Pincus’s executive-management group, focusing on legal, regulatory and compliance matters, according to a biography on the firm’s website.

Arenare’s tenure “spanned both the strong growth of our firm globally and an era of great change in the private-equity business,” Chip Kaye, Warburg Pincus’s co-chief executive officer, said in the statement.

Warburg Pincus, founded in 1966, oversees about $35 billion in assets and owns stakes in more than 125 companies. Kewsong Lee, a veteran deal maker who had been at Warburg for 21 years, was hired earlier this week as deputy chief investment officer at Carlyle Group LP, where he will report to co-founder Bill Conway.

To contact the reporter on this story: Devin Banerjee in New York at

To contact the editor responsible for this story: Christian Baumgaertel at

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