Warburg Pincus has announced it has successfully raised its latest global fund, Warburg Pincus Private Equity XII.

The fund, launched in May 2015, has received commitments in excess of its $12 billion hard cap.

Warburg Pincus, founded in 1966 and headquartered in New York, is a global PE firm focused on growth investing. It has more than $40 billion in PE assets under management.

The firm invests in businesses at all stages of development with a focus on five key industry sectors: energy financial services, healthcare and consumer, industrial and business services, and technology, media and telecommunications.