Warburg Pincus CEO Jeffrey Perlman on navigating a trickier private equity environment

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• 00:00

  Welcome to another episode of Goldman Sachs Exchanges Great Investors.

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  I'm Allison Mass, Chairman of Investment Banking in Goldman Sachs's Global Banking and Markets,

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  and your host for this episode.

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  Today I have the pleasure of sitting down with Jeffrey Perlman, the CEO of Warburg-Pinkus.

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  Warburg-Pinkus is one of the pioneers of private equity investing,

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  having raised its first fund in 1971.

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  Today, it has about $90 billion in assets under management,

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  offices around the world, and a relatively new CEO.

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  I'm excited to hear how Jeff plans to build on his firm's legacy amid all of the opportunities and challenges faced by private equity firms today.

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  So Jeff, welcome to the program.

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  Thanks for having me.

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  Before I get to your career, I want to start with your firm.

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  Take us back to 1971, when Warburg-Pinkus launched its first PE fund.

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  And tell us a little bit about what the investing world looked like then,

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  and what was the opportunity that your firm's leaders saw then?

• 01:01

  Yeah, this may not surprise you Allison, but that does predate me.

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  But going back to that first fund,

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  Lionel-Pinkus was really a visionary for the industry, really coined the term private equity.

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  And when I look back in 1971, we raised at the time, was a $41 and a half million dollar fund.

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  I think the Wall Street Journal at the time said, wow,

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