Global private equity firm Warburg Pincus is reportedly planning a push for European assets after sending one of its partners to the continent to build a new team.
Daniel Zilberman will lead a group of about five investment professionals according to the FT, which cited a person close to the firm.
It said the move was founded on a belief there are still deals to be done picking up assets from European lenders as they look to reduce their balance sheets under the pressures of new regulation.
Zilberman joined Warburg Pincus in 2005 and focuses on investments in banks, insurance companies, asset managers and service providers to the financial services industry.
He previously worked at Evercore Capital Partners and Lehman Brothers.
Warburg managed to raise one of the largest private equity funds since the financial crisis last month after receiving strong support from existing LPs, which were attracted by the firm’s track record and its flexible strategy.
The firm’s Warburg Pincus Private Equity XI vehicle held a final close of $11.2bn after hitting its first close of over $5bn in May last year.
The fund was raised after less than two years on the road despite a tough fundraising environment.
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