Key Takeaways
- • David Reis and Rianne Schipper, managing director and principal respectively at Warburg Pincus, are departing the firm in 2026 to establish an independent private equity platform focused on European business services and industrials investments.
- • The pair have collaborated for approximately a decade at Warburg Pincus, building out the firm's European industrials and business services franchise, with Reis leading investments in Accelya and Once For All among other portfolio companies.
- • The spinout reflects accelerating trend in European private equity where experienced investors are launching first-time funds, driven by strong emerging manager fundraising appetite, slower distributions at larger platforms, and reduced carry payouts that traditionally served as retention mechanisms.
- • Warburg Pincus is simultaneously undergoing internal reorganization of its business services and industrials coverage, creating an opportune moment for experienced dealmakers to pursue independent ventures.
- • Market conditions favor specialized teams with established track records launching independent platforms, with investor appetite for emerging managers supporting improved fundraising channels for smaller, focused investment groups.
Summary
David Reis and Rianne Schipper are preparing to depart Warburg Pincus to launch their own private equity platform, marking the latest chapter in an accelerating wave of spinouts across European private equity. Reis, a managing director, and Schipper, a principal, both have focused their careers on business services and industrials investing and are expected to exit Warburg Pincus later in 2026 to pursue their independent venture.
The duo brings substantial credentials from their tenure at Warburg Pincus, where they have worked together for roughly a decade. Schipper joined the firm in 2014 and subsequently partnered with Reis to develop the firm's European industrials and business services franchise. During their time at Warburg Pincus, Reis led several significant investments, including stakes in airline services provider Accelya and compliance and supply chain software group Once For All, while holding board positions across multiple portfolio companies. Schipper has been involved in numerous investments spanning software, industrial services, and consumer sectors.
The departure reflects broader industry dynamics reshaping European private equity. Industry participants attribute the spinout trend to multiple factors: strong investor appetite for emerging managers, slower distributions from larger established platforms, and reduced carry payouts that traditionally functioned as retention tools. Market observers characterize the current environment as particularly favorable for spinouts, with fundraising channels increasingly accessible to smaller, specialized teams possessing established track records built within major platforms.
The timing of the spinout coincides with internal restructuring within Warburg Pincus's European operations, including reorganization of its business services and industrials coverage. This internal realignment has created conditions conducive to experienced dealmakers launching independent platforms while maintaining access to institutional capital sources seeking exposure to emerging manager expertise.
The duo brings substantial credentials from their tenure at Warburg Pincus, where they have worked together for roughly a decade. Schipper joined the firm in 2014 and subsequently partnered with Reis to develop the firm's European industrials and business services franchise. During their time at Warburg Pincus, Reis led several significant investments, including stakes in airline services provider Accelya and compliance and supply chain software group Once For All, while holding board positions across multiple portfolio companies. Schipper has been involved in numerous investments spanning software, industrial services, and consumer sectors.
The departure reflects broader industry dynamics reshaping European private equity. Industry participants attribute the spinout trend to multiple factors: strong investor appetite for emerging managers, slower distributions from larger established platforms, and reduced carry payouts that traditionally functioned as retention tools. Market observers characterize the current environment as particularly favorable for spinouts, with fundraising channels increasingly accessible to smaller, specialized teams possessing established track records built within major platforms.
The timing of the spinout coincides with internal restructuring within Warburg Pincus's European operations, including reorganization of its business services and industrials coverage. This internal realignment has created conditions conducive to experienced dealmakers launching independent platforms while maintaining access to institutional capital sources seeking exposure to emerging manager expertise.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.