Private Equity

Warburg Pincus backtracks on investing in oil and gas

Warburg’s turnabout comes from one of the oldest US buyout firms and one that has backed oil-and-gas businesses for more than 30 years

Warburg Pincus is telling investors it won’t make any deals linked to fossil fuels from its next flagship fund, joining other private-equity firms that are reducing their investment presence in the oil-and-gas sector.

“Warburg Pincus will begin a transition away from investing in companies that are dependent on hydrocarbon pricing in the core global fund,” said a person familiar with the firm’s plans.

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