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Warburg Pincus Seeks $2.5 Billion for New Financial Sector Fund

Timothy Geithner
Timothy GeithnerPhotographer: Andrew Harrer/Bloomberg

Warburg Pincus is seeking to raise $2.5 billion for its second fund dedicated to financial sector deals, according to a person with knowledge of the matter.

The private equity firm has begun preliminary discussions with investors about the WP Financial Sector II fund, which will invest alongside its flagship vehicle in areas such as payments and financial technology, said the person, who asked not to be named because the information isn’t public. It plans to formally launch capital-raising efforts in November, with a first close targeted for mid-2021, the person said.