Warburg Targets $2 Billion to Back PE Firms’ Continuation Funds

Warburg Pincusaims to raise as much as $2 billion to invest in assets that other private equity firms plan to hold for longer, marking the latest effort to capitalize on alternative asset managers’ need for liquidity.

The firm has spoken with investors about the new strategy, which plans to back 10 to 15 single-asset continuation funds and some unique multi-asset vehicles, according to people familiar with the matter.

The target for the vehicle could change as the firm approaches a wider pool of investors in a challenging environment for fundraising, the people said, asking not to be identified because ...