Warburg Pincus Access Fund Raises $10 Million in October, Down From $12 Million in September

Combined sales across the WP ACE platform edged up to about $19.8 million, and every open unit class carried a higher transactional NAV at the end of September than a month earlier.

November 11, 2026

Warburg Pincus Access Fund, L.P. sold $10,003,143 of unregistered limited partnership units on October 1, 2026, through its continuous private offering. The fund raised $11,986,895 at its September 1 closing and $15,427,218 at its August 3 closing.

Class B units again took nearly all of the capital. Class B1 accounted for 169,972 units and $4,731,000, and Class B3 for 187,592 units and $5,209,643. A smaller Class E tranche of 1,876 units brought in $62,500. Unit and dollar amounts were rounded to the nearest whole number. No Class A1, A2 or A3 units appear among the October sales, although the fund reports transactional NAVs for all three as classes that have accepted third-party investors.

The buyers were third-party investors and the fund's independent directors, with some outside capital arriving through Warburg Pincus Access Fund (TE), L.P., a Delaware feeder vehicle set up to invest in the fund. The sales relied on the Section 4(a)(2) exemption, including Regulation D, and units were priced at each class's transactional NAV as of September 30, 2026.

WP ACE platform sales

The fund generally invests alongside another Warburg Pincus LLC-managed vehicle that is organized outside the United States and has substantially similar objectives and strategies. Together the two are referred to as WP ACE. WP ACE sold interests totaling approximately $19,814,924 on October 1, compared with approximately $19,476,940 on September 1.

Transactional NAV by class

The fund reported the following transactional NAVs per unit as of September 30, each shown with its August 31 value:

• Class A1: $29.14, from $28.59
• Class A2: $29.19, from $28.63
• Class A3: $29.24, from $28.67
• Class B1: $27.85, from $27.33
• Class B3: $27.93, from $27.40
• Class E: $33.31, from $32.21

The investment manager calculates transactional NAV monthly to set the price of unit transactions. It starts from month-end investment values, adds cash and other assets, and deducts liabilities, including the accrued management fee and performance participation allocation, along with class-specific expenses such as servicing fees. The fund expects the figure to differ from NAV under U.S. generally accepted accounting principles because the two methods treat certain expenses differently.