Warburg Pincus sells $1.2 bln Asian assets: WSJ

Warburg Pincus is selling a $1.2 billion slice of one of its Asian investments from one of its funds to secondary buyers, the Wall Street Journal reported. Lexington Partners and Goldman Sachs Group Inc’s asset management arm are the largest buyers in the deal, the story said. When the deal is completed Warburg’s Fund XI exposure to Asian companies to about 40 percent from around 50 percent prior to the deal, the WSJ said.