Warburg Pincus

Warburg Pincus is the oldest private equity firm in the top 10, founded in 1966, and manages $83 billion in assets, which is less than half the AUM of #5 TPG Capital. It pioneered growth equity investing—backing high-growth companies with minority stakes rather than control buyouts—20 years before the strategy became mainstream in the industry. With over 230 active companies across healthcare, technology, financial services, and real estate, the firm has invested more than $20 billion in Asia since 1994, making it the most Asia-focused PE firm on this list and a leader in emerging-market growth deals.