1. Warburg Pincus: A Leading Private Equity Firm
Tiburon Research
February 11, 2019

2. Warburg Pincus Comments Founded in 1939 Founded by Eric Warburg
Founded as EM Warburg & Company
Based in New York, NY
9 offices
182 employees
17 funds
$43 billion assets under management
Co-CEOs: Charles Kaye & Joseph Landy
Web site:
Source: 2/7/19 Warburg Pincus Web Site; 2/9/09 Warburg Pincus Web Site; 8/20/99 Warburg Pincus Web Site; Tiburon Research & Analysis

3. EM Warburg & Company Founded
Warburg Pincus was Founded in 1939 as EM Warburg & Company and Has Subsequently Evolved through its EM Warburg & Company, Warburg Pincus, & Recent Phases
Warburg Pincus
History
EM Warburg & Company Founded
Warburg Pincus Today
EM Warburg & Company
Phase
Warburg Pincus
Phase
Recent
Phase
Approximate Dates:
1939
2019
Key Steps:
1939: EM Warburg & Company founded
XXXX: --
1966: Merged with Lionel Pincus & Company
1999: Sold asset management division & minority stake to Credit Suisse Group
2004: Repurchased minority stake from Credit Suisse Group
2006: Raised first real estate fund
XXX: --
Source: 2/9/09 Warburg Pincus Web Site; 12/24/04 Credit Suisse Group Press Release; 2/16/99 New York Times; Tiburon Research & Analysis

4. Pre-Merger Firm Profile Lionel Pincus & Company
Warburg Pincus’ Predecessor EM Warburg & Company Merged with Lionel Pincus & Company in 1966
Warburg Pincus
Pre-Merger Firm Profile
EM Warburg & Company
Lionel Pincus & Company
Founded in 1939
Founded by Eric Warburg
Founded as EM Warburg & Company
Based in New York, NY
Founded in XXXX
Founded by Lionel Pincus
CEO: Lionel Pincus
Source: 2/9/09 Warburg Pincus Web Site; Tiburon Research & Analysis 3 3

5. Warburg Pincus is Not a Frequent Advertiser
Comments --
Source: Tiburon Research & Analysis 4

6. Warburg Pincus is Not a Frequent Acquirer
Comments --
Source: Tiburon Research & Analysis 5

7. Warburg Pincus Has a Charitable Giving Program
Comments --
Source: Tiburon Research & Analysis 6

8. Warburg Pincus Has Twelve Offices, Consistent Since 2008
Source: 2/9/09 Warburg Pincus Web Site; Tiburon Research & Analysis 7 7 7

9. Warburg Pincus Offices
Warburg Pincus’ Offices Include Beijing, China; Frankfurt, Germany; Hong Kong, China; London, England; Mumbai, India; New York; San Francisco, CA; Shanghai, China; & Tokyo, Japan
Warburg Pincus
Offices
Hong Kong, China
London, England
Mumbai, India
New York, NY
San Francisco, CA
Shanghai, China
Tokyo, Japan
Beijing, China
Frankfurt, Germany
Source: 2/9/09 Warburg Pincus Web Site; Tiburon Research & Analysis 8 8

10. Warburg Pincus Has 182 Employees, Up From Twenty in 1950
Source: 2/9/09 Warburg Pincus Web Site; 8/20/99 Warburg Pincus Web Site; Tiburon Research & Analysis 9 9

11. Warburg Pincus Has Raised Seventeen Funds, Consistent Since 2018
Source: 2/7/19 Warburg Pincus Web Site; Tiburon Research & Analysis 10 10 10

12. Warburg Pincus Has Raised $43 Billion Assets, Consistent Since 2018
Assets Raised
($ Billions)
Source: 2/7/19 Warburg Pincus Web Site; Tiburon Research & Analysis 11 11 11

13. Warburg Pincus’ Investments Include Facet Wealth-- --
Source: Tiburon Research & Analysis 12 12

14. Assets Under Management
Warburg Pincus Has Gathered $43 Billion Assets Under Management, Consistent Since 2018
Warburg Pincus
Assets Under Management
($ Billions)
Source: 2/7/19 Warburg Pincus Web Site; Tiburon Research & Analysis 13 13 13

15. Warburg Pincus’ Portfolio Companies Include Facet Wealth-- --
Source: Tiburon Research & Analysis 14 14

16. Warburg Pincus Businesses
Warburg Pincus Has Two Businesses, Including Private Equity & Real Estate
Warburg Pincus
Businesses
Warburg Pincus
Businesses
Private Equity
Real Estate
Source: 2/9/09 Warburg Pincus Web Site; Tiburon Research & Analysis

17. Warburg Pincus’ First Business is Private Equity
Comments
13 funds
$43 billion assets under management
Source: 2/9/09 Warburg Pincus Web Site; Tiburon Research & Analysis 16 16

18. Warburg Pincus’ Private Equity Business Provides Services, Including…-- --
Source: Tiburon Research & Analysis

19. Warburg Pincus’ Second Business is Real Estate
Comments --
Source: Tiburon Research & Analysis 18 18

20. Warburg Pincus’ Real Estate Business Provides Services, Including…-- --
Source: Tiburon Research & Analysis

21. Warburg Pincus is Led by its Co-CEOs Charles Kaye & Joseph Landy
Organizational Chart
Charles Kaye
Co-CEO
Joseph Landy
Co-CEO --
Note: Charles Kaye joined the firm in XXXX; Joseph Landy joined the firm in XXXX
Source: 2/7/19 Warburg Pincus Web Site; 2/9/09 Warburg Pincus Web Site; Tiburon Research & Analysis

22. Warburg Pincus Has a Board of Directors Led by its Chairman…-- -- -- -- -- -- -- -- -- --
Source: Tiburon Research & Analysis

23. Warburg Pincus is Privately Owned
Comments --
Source: Tiburon Research & Analysis

24. Tiburon Strategic Advisors
Comments
Focus on corporate-level strategy
Serve senior executives only at financial services companies
Key services: market seminars, market research, & strategy consulting
Served over 450 corporate clients and completed over 2,200 projects since 1998
Host semi-annual CEO Summits, offer free weekly research releases, and offer free business benchmarking tools for all types of advisors
Chip Roame background
McKinsey & Company
Charles Schwab & Company
Tiburon since 1998
Source: Tiburon Research & Analysis