Warburg Said to Eye $2.5 Billion-Plus Sale of Auto Lender Exeter

Warburg Pincus is in the early stages of weighing a sale of subprime auto lender Exeter Finance that could fetch $2.5 billion to $3 billion, according to people familiar with the matter.

The New York-based private equity firm is working with advisers to seek buyers for Exeter, said the people, who asked to not be identified because the details are private. Warburg is also considering taking the company public, the people added.

No final decision has been made and Warburg could opt to hold onto the Irving, Texas-based company, the people added. Representatives for Warburg Pincus and Exeter declined to ...