Warburg Pincus, a global private equity firm focused on growth investing, has successfully raised its latest global fund, Warburg Pincus Private Equity XII, receiving commitments in excess of $12bn hard cap.

Charles R. Kaye, Co-Chief Executive Officer, said: “We are pleased with the favorable reception to Warburg Pincus XII.”

“Global growth investing, alignment of interests, proprietary deal sourcing, adding value to our portfolio companies – these elements have long been central to the success of our business model and this fund's oversubscription affirms our differentiated approach to private equity investing,” he said.

Warburg Pincus XII’s investors include leading public and private pension funds, sovereign wealth funds, insurance companies, endowments, foundations and wealthy individuals.

In addition to the strong overall demand, Warburg Pincus XII received considerable participation from investors outside the US, which reflects the firm's international investing model.

Warburg Pincus XII is a global private equity fund with no geographical allocations.

The firm invests in businesses at all stages of development with a focus on five key industry sectors: energy, financial services, healthcare and consumer, industrial and business services (IBS) and technology, media and telecommunications (TMT).

Warburg Pincus didn't comment whether this fund will invest in Africa, but said that "it is worth noting that it "has already invested in two companies with operations in Africa, Kosmos and Delonex".

Kosmos manages an African exploration portfolio that includes large acreage positions in Morocco, Cameroon, Nigeria and Benin, in addition to the company’s licenses offshore Ghana.

Delonex Energy is an E&P company focused on oil and gas exploration in frontier basins in Central and East Africa.

The private equity firm seeks to partner with management teams to build companies of sustainable value.

“Our global network and deep domain expertise allow us to find and invest in unique companies across sectors and geographies,” said Joseph P. Landy, Co-Chief Executive Officer.

“This new fund will enable us to continue what Warburg Pincus has done for almost 50 years: investing with entrepreneurs and management teams, starting and building businesses that will generate persistent returns for our investors,” he said.