Editor's Note

Past perfect

A hands-off approach and a few bad investments have spoilt the game for private equity major Warburg Pincus

In September 1999, when Warburg Pincus started buying into what was then Bharti Tele-Ventures, very few in India had heard about the blue-blooded private equity firm. Even fewer could prophesise the growth that Bharti Airtel would go on to enjoy. As it turned out, with that deal Warburg Pincus went on to make history. Pulak Prasad’s spectacular exit became the talk of the town, from Mumbai to New York. It is a success few private equity players have been able to replicate, including Warburg itself.&nb

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