Warburg Pincus Wants a Bigger Foothold in China’s Trillion-Dollar Mutual Fund Industry

What’s new: U.S. private equity giant Warburg Pincus LLC is planning to take a stake in a Shanghai-based mutual fund management firm in a deal that would make it one of the latest global asset managers to expand its foothold in China’s 26 trillion yuan ($3.8 trillion) mutual fund industry.

Lombarda China Fund Management Co. Ltd. has applied for a Warburg Pincus unit to become one of its shareholders, according to a notice released by the China Securities Regulatory Commission on Feb. 3.