Private equity firm Warburg Pincus filed to raise $750 million in initial public offerings by two new special purpose acquisition companies. Warburg Pincus Capital I-A is seeking to raise $250 million while Warburg Pincus Capital I-B is targeting $500 million, according to filings Wednesday with the U.S. Securities and Exchange Commission that confirmed an earlier Bloomberg report.

This is Warburg Pincus’s first entry into the heated SPAC market. This year, 150 of the merger vehicles have raised more than $46 billion in IPOs, according to data compiled by Bloomberg.

Warburg Pincus is joining other brand-name buyout shops that are sponsoring SPACs. TPG, Apollo Global Management Inc. and tech-focused Thoma Bravo have each set up at least one blank-check firm.


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Source: BNN Bloomberg

By Crystal Tse