Private equity powerhouse Warburg Pincus said it raised $750 million dollars more than it anticipated for a second China and Southeast Asia-focussed investment fund. That comes despite signs that the trade war between China and the U.S. could make cross-border investments between the two countries increasingly difficult.
Significantly, the new fund, which had a goal of raising $3.5 billion but eventually secured $4.25 billion from pension funds, sovereign wealth funds and others, will expand to include Southeast Asia as part of its remit.
Warburg Pincus has already invested in the region, notably backing Indonesian ride-hailing startup Go-Jek. In China, it has invested in Alibaba’s financial affiliate Ant Financial, ZTO Express and electric carmaker NIO.