Global private equity house Warburg Pincus has named a new head of European investment activities.
Daniel Zilberman, who joined Warburg Pincus in 2005, relocated to London in 2013 and leads the firm’s European financial services and special situations groups. He is also a member of the firm’s executive management group.
Joseph Schull, who has been responsible for the firm’s European investments since 2011, has been named chairman of Warburg Pincus International. He will remain head of the firm’s European technology, media and telecommunications group and a member of the executive management group.
It is understood that the change in leadership is part of a scheduled succession plan.
Warburg Pincus declined to comment.
In November Warburg Pincus held a first and final close on its twelfth global buyout fund in excess of its $12 billion hard-cap after just six months in market, one of the largest single closes in private equity history, as reported by Private Equity International.
Warburg Pincus Private Equity XII launched in May 2015 and drew commitments from the likes of the Minnesota State Board of Investment, the New Hampshire Retirement System, Washington State Investment Board, the Oklahoma Police Pension and Retirement System, the Public Employees Retirement Association of New Mexico, and the Oklahoma City Employee Retirement System, according to PEI Research & Analytics.
The vehicle also attracted “considerable participation” from LPs outside of the US, the firm said at the time.