AVCJ Q&A with Warburg Pincus Co-CEO Chip Kaye

Chip Kaye, Co-CEO of Warburg Pincus, discusses market fluctuations, global dislocation, expanding into Southeast Asia, raising a companion fund for China, and innovation in the secondaries space. This Q&A was conducted and first run by Asia Venture Capital Journal (AVCJ) on November 6, 2018.Q: Are you seeing a lot of peak-of-cycle behavior in private markets globally?A: I think everyone recognizes that we are in some version of the late innings in terms of economic and market cycles – although we need to remember that our collective ability to predict when those peaks occur is quite low. In some ways, it’s been one of the more pessimistic bull markets. There have been many points in the last 10 years when people have thought we might be approaching a turning point. I think of it as N+2: everyone always thinks the discontinuity is two years ahead. It is very easy to paint a sce ………………………………