Warburg Pincus Planning New Buyout Fund

New York-based Warburg Pincus is planning to raise a new buyout fund, Reuters reported, citing a news story by Bloomberg. The firm has reportedly invested more than 80% of its current $15 billion pool, which was raised in 2008, Reuters wrote.

(Reuters) – Private equity firm Warburg Pincus is preparing to raise a new buyout fund, Bloomberg reported, citing two people familiar with the matter.

The New York-based firm has discussed the plan with clients after investing more than 80 percent of its current $15 billion pool, raised in 2008, the news agency said.

Warburg Pincus had initially targeted $12 billion for its current fund, Bloomberg added.

Warburg Pincus did not immediately respond to requests by Reuters seeking comment on the report.

On Monday, sources told Reuters that the PE firm was looking to sell Camp Systems International, a software provider for business aircraft that could fetch $500-$600 million.

Last week, Warburg Pincus sold its stake in Telcordia to mobile network gear maker Ericsson (ERICb.ST) in a deal valuing the telecommunications company at about $1.15 billion. (Reporting by Renju Jose in Bangalore; Editing by Hans-Juergen Peters)