Warburg Pincus Cuts Seven China Dealmakers After Slowdown
- Two partners, five others from consumer technology to depart
- Warburg Pincus plans to reduce consumer Internet investment
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Warburg Pincus LLC is cutting about seven China dealmakers as the private-equity firm weighs scaling back consumer Internet investments, joining other finance firms in reducing staff as markets tumble and the world’s second-largest economy struggles to expand.
Two partners, Vera Yang and Gordon Ding, and five more junior employees will leave the asset manager as part of the reshuffle, a person with knowledge of the matter said, asking not to be identified because the firm doesn’t comment on personnel changes. Yang and Ding couldn’t be immediately reached for comment.