Anyone know the back story of what's going on at Warburg Pincus and what it means? Have been told that the services group has been shut down - what caused this? what is happening to everyone there? had been talking to people there for oncycle but not sure it should be a priority anymore
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what does it mean to get shit down everyone is laid off ? similar to carlyle consumer ?
It’s not that extreme. They announced a large reorganization around the US technology practice to align coverage groups. As part of that the large cap tech buyout team (SIG) was merged into technology and the business services team was split between technology and industrials. Firm is still investing in services but just no standalone team. Will now be Technology and Tech Enabled Services as one group and Industrials and Industrial Services as another. There was too much overlap between the three groups so made sense to consolidate. Dont think any of the teams lost jobs as a direct result of this, they were just moved to another group.
This is part of a bigger reorg for the firm (they moved some staff from NY to EU and EMEA and is likely a move to prepare for the next fundraise
TLDR; still great firm. Your contacts in those groups are likely still employed. No impact to you
Source: good friend works at WP
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