Warburg Pincus managing director and general counsel Scott Arenare has left the firm after 15 years to pursue a “new business opportunity”.
The firm has hired long-serving M&A and corporate finance lawyer Robert Knauss to replace Arenare, who was also a member of the firm’s executive management group.
Knauss was previously a corporate partner at Munger, Tolles & Olson in Los Angeles, where he worked on deals for firms including Oaktree Capital Management, Lazard and Yucaipa Companies.
Before joining MT&O in 1981 he was a law clerk for Justice William Rehnquist of the US Supreme Court.
Warburg co-CEO Charles Kaye said, “[We want] to express our gratitude to Scott for his professionalism over the past 15 years and wish him well as he focuses on his next venture.
“We appreciate Scott’s consistent dedication and service during his tenure, which spanned both the strong growth of our firm globally and an era of great change in the private equity business.”
Fellow co-CEO Joseph Landy added, “Rob is a talented lawyer who brings to the firm a tremendous amount of relevant experience. We will benefit greatly from Rob’s expertise, counsel and leadership.”
Last month it emerged that Warburg is planning its first energy investment fund, which could target more than $2.5bn.
The firm will offer fee breaks to existing clients and backers which commit substantial amounts according to Bloomberg, which cited two people familiar with the matter.
Warburg is following in the footsteps of fellow buyout giants Blackstone, Apollo and Carlyle, who have all raised multibillion dollar energy vehicles.
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