The Warburg Pincus Funds early next year will add a large company growth fund and merge two similar funds, according to SEC filings and a company spokesperson.
The Warburg Pincus Large Company Growth Fund, a no-load fund, will invest primarily in the stock of U.S. companies whose market capitalizations exceed $5 billion, according to a registration statement the fund filed with the SEC Nov. 1.
The fund's adviser, Credit Suisse Asset Management LLC of New York, plans to offer the fund early next year, said Leslie Mayock, a spokesperson. The Warburg Pincus Funds include 35 retail funds and have approximately $11.6 billion in assets under management.
In addition, the directors of the Warburg Pincus Emerging Markets II Fund, with less than $1 million in assets under management, have proposed the fund merge with Warburg Pincus Emerging Markets Fund, which has $68 million in assets. Shareholders are scheduled to vote on the proposal at a meeting Jan. 27. The move is part of an effort to reduce duplication of funds in the Warburg Pincus fund family as a result of Credit Suisse's acquisition of Warburg Pincus Asset Management in July, Mayock said.
Credit Suisse also announced last week that the Warburg Pincus Growth & Income Fund will be renamed the Warburg Pincus Value Fund, effective Jan. 1. The change is designed to better reflect the fund's investment style, Credit Suisse said in a statement.