On August 2, 2017, Warburg Pincus LLC announced an agreement to acquire a 49% stake in Fortune SG.
Warburg Pincus LLC (“Warburg Pincus”) has acquired regulatory approval from the China Securities Regulatory Commission. The transaction is expected to close in the third quarter of 2017 and is subject to closing conditions.
Warburg Pincus is a New York based global private equity firm specializing in growth investing diversified by geography, stage and sector. Warburg Pincus has approximately $44 billion in assets under management.
Fortune SG is a Chinese asset management firm, offering a variety of products including domestic and international public equity funds and exchange-traded products. As of June 30, 2017, Fortune SG had RMB 122.5 billion in public equity assets under management.
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