New York-based private equity major Warburg Pincus has appointed Jeffrey Perlman, its current Asia head of real estate, as president, succeeding Timothy Geithner. Geithner, former US Treasury Secretary, will now serve as the firm's chair. This change comes as part of Warburg Pincus's succession plan and Perlman is expected to eventually replace CEO Chip Kaye. Despite his new role, Perlman will maintain his responsibilities in Asia and continue to play a crucial role in the firm's real estate investment team. Perlman's appointment coincides with a critical period for private equity funds as they navigate changing interest rate cycles. Furthermore, the firm recently raised over USD16bn in its flagship private equity fund and received approval to acquire a 23.3% stake in China's Zhong Ou Asset Management Co.
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