Warburg Pincus Joins IDC Bid Team

LONDON (Reuters) – Private equity firm Warburg Pincus has joined a consortium working on a bid for Interactive Data Corp (IDC.N), a person familiar with the matter said, as suitors bolster their teams ahead of second round bids.

Warburg Pincus has joined an effort by Hellman & Friedman and Silver Lake Partners to get hold of the financial market data provider, the person said on Monday.

Elsewhere a consortium of Kohlberg Kravis Roberts & Co (KKR.AS) and CVC hired Stuart Clark — a former IDC chief executive — as an adviser on its bid, the Financial Times reported on Monday ahead of an expected late-April deadline for second-round bids.

Reuters reported in March that two separate teams had been formed to make bids for IDC. Another consortium includes Advent International with Bain Capital.

Pearson Plc (PSON.L), which owns a 61 percent stake in IDC, declined to comment. IDC said in January it was reviewing its strategic options, which prompted interest from a number of private equity firms.

(Reporting by Simon Meads and Kate Holton; Editing by Douwe Miedema and David Holmes)