Warburg Pincus Said to Seek $1.6 Billion for Financial Deals

Warburg Pincus, the private equity firm where former Treasury Secretary Tim Geithner is president, is targeting $1.6 billion for its first fund dedicated to financial services, people familiar with the matter said.

The firm is in early stages of marketing and aims to hold a close on capital in December, said one of the people, who asked not to be identified because the process is private. It will be the third strategy-focused fund for Warburg Pincus, which has historically done deals in one global fund.