Warburg Pincus Promotes Seven to MD, Hires Two

Buyout shop Warburg Pincus is promoting seven of its principals to the post of managing director, and hiring two new managing directors, the firm announced Monday. The two new managing director hires are Mazin Al Khatib, who was previously a managing director at Investcorp Bank, and Somit Varma, who will work on energy deals and was previously global head of the natural resources group of the International Finance Corporation, Reuters wrote Monday.

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