Warburg Pincus has sold a 5% stake in itself to a French billionaire’s family office in a move that hands the US private equity firm extra capital to invest in its future funds, it said in a statement on October 28.

Warburg Pincus, which has more than $35 billion in assets under management, said that Groupe Marc de Lacharriere, the family holding company of French national Marc Ladreit de Lacharriere, has taken a stake in the private equity firm for an undisclosed sum.