We understand how important it is to keep your information safe and secure and we take this very seriously. We have taken steps to make sure your information is looked after in the best possible way and we review this regularly. Please read this Privacy Notice (‘Privacy Notice’) carefully, as it contains important information about how we use the information about you we collect, store and use.
In this Privacy Notice the following words are used as set out below:
We are required to provide you with this Privacy Notice by Law. It explains how we use the information we collect, store, and hold about you. If you are unclear about how we process or use your information, or you have any questions about this Privacy Notice or any other issue regarding your information, then please contact our Data Protection Lead (see paragraph 3 below). The Law says:
We are Inconf a company registered in England and Wales with company number 12399032 and our registered address is 28 Alexandra Terrace, Exmouth, Devon, EX8 1BD. We deliver virtual event platforms and live streaming services for brands, corporations, associations, rights-holders, event management agencies and production companies. (‘the Service’). We receive data from Our Clients or their event production companies or agencies. Other data collected includes but is not limited to questions submitted, polling responses, surveys, profiles and instant messages directly from the data subject during their interaction with the Inconf Platform. When delivering virtual events on behalf of Our Clients, we are the Data Processor and our Client (and/or their event management company / agency) is the Data Controller. We also collect data about our sales prospects and targets . This data is typically collected via LinkedIn, websites and our personal networks of contacts and is stored in our CRM (Customer Relationship Management) system. We are the Data Controller of our sales and marketing information unless we are a Data Processor as referred to above. The purposes for which we collect and use your information are set out in this Privacy Notice.
Our Data Protection Lead is Daniel Cave, Chief Experience Officer If you have a query or need any further information about this Privacy Notice or wish to make a complaint, please email the Data Protection Lead at: dpo@inconf.tv
All information collected will only be used for the purpose of providing the Service as described in this Privacy Notice. We will collect and use the information you have provided for the purposes of:
We may collect the following information either from Our Clients or on behalf of Our Clients
In addition, we may collect the following:
The law states that we must collect and use your information in accordance with a legal basis. We will only use any information that you provide in accordance with the retained EU law version of the General Data Protection Regulation ((EU) 2016/679) (‘UK GDPR’), the Data Protection Act 2018 and any other relevant legislation, regulation, code of practice or guidance. The legal basis for collecting and using your information will depend on the information concerned and the specific context in which it is collected. We will normally use your information where:
We will keep your information for as long as necessary but in any event in accordance with our data retention and disposal policy, with current law and national guidance. All event data is deleted within 6 months days following the end of an event or project.
We typically pass to Our Clients any data collected during their event, together with an analytics ‘insight report’ which gives them a summary of the key insights drawn from the data collected. We may pass on your information if we have a legal obligation to do so.
Your information may be used to report trends or reports to Our Clients. The data is used for analytics as a key part of the service to Our Clients and includes which delegates watched which sessions / downloaded which documents / visited which expo stands and submitted which questions. This information will not be anonymized which means it can identify you as an individual. Clients are offered the option for their delegates or visitors to be excluded from tracking if they wish.
We will not share your information for marketing purposes unless we have your consent.
For further information on your rights please go to:https://ico.org.uk/your-data-matters/
You have the right to object to your information being used in some or all of the ways as described in this Privacy Notice. Please contact the Data Protection Lead should you have any questions or issues with the use of your information as described here.
You have the right to complain about the management of your information. In the first instance, please refer your complaint to the Data Protection Lead as detailed above. If you remain dissatisfied with our response you have a right to raise any concern or complaint with the Information Commissioner’s Office:https://ico.org.uk/
If English is not your first language, you can request a translation of this Privacy Notice. Please contact our Data Protection Lead for further information.
Our website uses cookies to enable certain core functionality such as allowing you to log in to the virtual event platform and to network with other participants. These cookies do not contain any sensitive or personal information and only act as a mechanism for our server to identify your user account as you move around the website.
When you visit our website, you are also prompted to allow us to collect additional information about how you use the website. This data is anonymized and is used to allow us to identify trends on our website and make improvements. For example, this anonymized data allows us to see how many people have visited a certain page on our website in a given month. Unless you click the “Allow cookies” option, we do not collect this data or store the Google Analytics tracking cookie that enables this functionality on your device.
For more information on ‘Cookies and similar technologies’ go to;https://ico.org.uk/your-data-matters/online/cookies/
Our website contains hyperlinks to other third-party websites. If you go to another website from our website, it is important that you read their Privacy Notice on that website to find out what it does with your information and their policies may differ from ours. We take no responsibility legal or otherwise for the content or use of information, personal or otherwise, on other websites.
Where we use third parties to process or use your information on our behalf, we ensure that we have a robust agreement in place which makes it clear that they must be compliant with the UK GDPR and any other relevant data protection legislation. We also make it clear that the information they may receive about you from us is only used in a manner consistent with the aims of Inconf and this Privacy Notice.
We take the security of your information very seriously and we do everything we can to ensure that your information is always protected and secured. We regularly update our processes and systems and we also ensure that our staffs are properly trained. We also carry out assessments and audits of the information that we hold about you and make sure that, if we provide any other services, we carry out proper assessments and security reviews. The website is maintained by WordPress who are the website hosts and providers however they do not process any data on behalf of Inconf Ltd. Your information is held electronically. It is password protected and held securely on either our internal computer systems or on a third-party secure server. The data we collect can only be accessed by the key Inconf project team members including the Project Manager, Data Analyst, Developers and Senior Leadership Team.
We are obliged to protect any confidential information that we hold about you and we take this very seriously. It is imperative that you let us know immediately if you change any of the contact details you have given us or given to others to give us so as to ensure that the information, we hold about you is up to date and correct.
Please note that this Privacy Notice will be regularly reviewed and updated in line with current data protection legislation, regulation, and guidance. You should check this Notice occasionally to ensure you are aware of the most recent version that will apply each time you access this website.
This Privacy Notice was last updated on 1 July 2021
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We use the following cookies:
You can find more information about the individual cookies we use and the purposes for which we use them in the table below:
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You can block cookies by activating the setting on your browser that allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or parts of our website. Except for essential cookies, all cookies will expire after various time periods. This Cookies Policy was last updated on 1 July 2021
Who we are and how to contact us
We are Inconf Ltd (“We”). We are registered in England and Wales under company number 12399032 and have our registered office at 28 Alexandra Terrace, Exmouth, England, EX8 1BD Our main trading address is 15 Victoria Road, Exmouth, England, EX8 1DL.
What’s in these terms?
This acceptable use policy sets out the standards that apply when you log in to this Platform or interact with our Platform in any other way.
By using our Platform you accept these terms:
By using our Platform, you confirm that you accept the terms of this policy and that you agree to comply with them. If you do not agree to these terms, you must not use the Platform.
We may make changes to the terms of this policy
We amend these terms from time to time. Every time you wish to use the Platform, please check these terms to ensure you understand the terms that apply at that time.
Prohibited uses
You may use the Platform only for lawful purposes. You may not use the Platform:
You also agree:
Interactive services We may from time to time provide interactive services on the Platform, including, without limitation:
Any moderation of Interactive Services will be undertaken by our client and you should refer to them for details.
Content standards
These content standards apply to any and all material which you contribute to the Platform (Contribution), and to any interactive services associated with it. The Content Standards must be complied with in spirit as well as to the letter. The standards apply to each part of any Contribution as well as to its whole. If applicable our client will determine, in its discretion, whether a Contribution breaches the Content Standards.
A Contribution must:
Breach of this policy
When we consider that a breach of this acceptable use policy has occurred, we and/or our client may take such action as we deem appropriate.
Failure to comply with this acceptable use policy may result in our taking all or any of the following actions:
We exclude our liability for all actions we may take in response to breaches of this acceptable use policy. The actions we may take are not limited to those described above, and we may take any other action we reasonably deem appropriate.
How this contract can be transferred
We can transfer our rights and obligations under these terms to any third party, provided this does not adversely affect your rights under these terms.
Which country’s laws apply to any disputes?
If you are a consumer, please note that the terms of this policy, its subject matter and its formation are governed by English law. You and we both agree that the courts of England and Wales will have exclusive jurisdiction except that if you are a resident of Northern Ireland you may also bring proceedings in Northern Ireland, and if you are a resident of Scotland, you may also bring proceedings in Scotland. If you are a business, the terms of this policy, its subject matter, and its formation (and any non-contractual disputes or claims) are governed by English law. We both agree to the exclusive jurisdiction of the courts of England and Wales.
Legal Considerations
This presentation (this “Presentation”) is being furnished upon your request on a confidential basis solely for informational purposes and may not be reproduced or provided to others without the prior written consent of Warburg Pincus LLC (together with certain of its affiliates, “WP”, “Warburg”, “Warburg Pincus” or the “firm”). By accepting delivery of this Presentation, each recipient agrees to the foregoing and that it will cause its representatives and advisors to so agree. This Presentation does not constitute an offer to sell, or a solicitation of an offer to buy, an interest in any security or Warburg Pincus private equity fund or other investment vehicle (each, a “Warburg Pincus Fund”), including Warburg Pincus Access Fund, L.P. (“WP ACE”). The information set forth herein does not purport to be complete and is subject to change. The firm has no responsibility to update any of the information provided in this Presentation. An investment in a Warburg Pincus Fund may only be made on the basis of the information contained in the confidential private placement memorandum of such Warburg Pincus Fund (the “Memorandum”), as and when available, which will describe certain risks related to an investment in the Warburg Pincus Fund and other important information about the Warburg Pincus Fund. By accepting this Presentation, the recipient agrees that the recipient will, and will cause the recipient’s representatives and advisors to, use the Presentation, as well as any information derived by the recipient from the Presentation, only for the evaluation of the performance of the Warburg Pincus Funds and the Warburg Pincus Funds’ investments and for no other purpose. Neither Warburg Pincus, any Warburg Pincus Fund nor any of their respective affiliates makes any representation or warranty, express or implied, with respect to the fairness, correctness, accuracy, reasonableness or completeness of any of the information contained herein (including but not limited to economic, market or other information obtained from third parties and the sponsors or managers of prior investments included herein), and each expressly disclaims any responsibility or liability therefor. The recipient acknowledges and agrees that the recipient is a sophisticated investor with such knowledge and experience in financial and business matters as to be capable of evaluating the merits and risks of the opportunities described herein, and shall independently and without reliance upon Warburg Pincus, make its own appraisal of, and investigation into the business, operations, property, financial and other conditions, creditworthiness, likelihood of success, merits and consequences of the opportunities described herein. The Presentation is based upon information reasonably available to Warburg Pincus as of the date hereof. The delivery of this Presentation shall not, under any circumstances, create any implication that the Presentation is correct in all respects, including as of any time subsequent to the date hereof, and Warburg Pincus does not undertake any obligation to update such information at any time after such date. Certain of the information contained herein, particularly in respect of market data, economic and other forecasts and performance data, has been obtained from third-party sources. While Warburg Pincus believes such sources to be reliable, none of Warburg Pincus, any Warburg Pincus Fund or their respective affiliates has updated any such information through the date hereof or undertaken any independent review of such information. Historical return information in this Presentation is not necessarily indicative of future performance. Investments in private equity do not have the same diversification and liquidity profiles as the indices selected for general comparison purposes. This Presentation also includes pro forma values and forward-looking statements, which are inherently uncertain and based on assumptions that could change as a result of a portfolio company’s operating performance, capital markets risks and general economic conditions. Unless otherwise indicated, financial information is as of June 30, 2026, and Warburg Pincus Funds or individual portfolio companies may have experienced, in certain instances, negative performance since such date. There can be no assurance that future Warburg Pincus Funds or individual portfolio companies will achieve comparable results as those presented herein or will be able to implement their investment strategies or achieve their investment objectives. Investments in private equity are speculative and risk the loss of capital.
WP ACE has access to strategies across Warburg Pincus’ global growth platform. The stated strategies and allocations are not exhaustive, and, Warburg Pincus expects to add and/or change strategies over time. WP ACE has an indefinite investment period. There is no assurance that WP ACE will access all these strategies or in any particular proportion, and available strategies may change at any given time and there can be no guarantee that investments will materialize or that WP ACE will participate in any given investment made by another Warburg Pincus Fund. WP ACE is permitted to make investments in additional strategies over time, including those that may subsequently be added to the global growth platform and those that are outside of the global growth platform, consistent with its overall strategy. There is no assurance that WP ACE will access any particular strategies represented herein and available strategies in which WP ACE is not currently expected to participate. Prospective investors should note that the investment programs, objectives, leverage policies and strategies of Warburg Pincus’ global growth platform are substantially different from the program and objectives of WP ACE, despite each strategy focusing on making private equity investments. For example, Warburg Pincus’s global growth platform is largely comprised of drawdown funds which can affect the calculation of IRR – WP ACE is evergreen and not a drawdown fund and will therefore experience these returns differently and investors should therefore attach correspondingly qualified consideration to the IRR and other information regarding the Warburg Pincus global growth platform included herein when considering and investment in WP ACE. Statements contained in this Presentation (including those relating to current and future market conditions and trends in respect thereof) that are not historical facts are based on current expectations, estimates, projections, opinions and/or beliefs of Warburg Pincus. Such statements involve known and unknown risks, uncertainties and other factors, and undue reliance should not be placed thereon. In addition, no representation or warranty is made with respect to the reasonableness of any estimates, forecasts, illustrations, prospects or returns, which should be regarded as illustrative only, or that any profits will be realized. Certain information contained herein constitutes “forward-looking statements” that relate to, among other things, recent and active prior Warburg Pincus funds and to the financial environment in which any Warburg Pincus Fund will operate, which can be identified by the use of forward-looking terminology such as “may,” “will,” “should,” “expect,” anticipate,” “project,” “estimate,” “intend,” “continue,” “target,” or “believe” or the negatives thereof or other variations thereon or comparable terminology. Furthermore, any projections or other estimates in this Presentation, including estimates of returns or performance, are “forward-looking” statements and are based upon certain assumptions that may change. Prospective investors should be aware that these statements are estimates or expectations, reflecting only the judgment of Warburg Pincus. Actual results and events could differ materially from those contemplated by these forward-looking statements as a result of various risks and uncertainties, actual events or results or actual performance of any Warburg Pincus Fund may differ materially from those reflected or contemplated in such forward looking statements. Moreover, actual events are difficult to project and often depend upon factors that are beyond the control of Warburg Pincus and its affiliates. Warburg Pincus does not undertake any obligation to update or revise the forward-looking statements contained in this Presentation to reflect events or circumstances occurring after the date of this Presentation or to reflect the occurrence of unanticipated events. No representation or warranty is made as to future performance or such forward looking statements. Any discussion and/or inclusion of pipeline investments is for illustrative purposes only. These investments are not subject to a letter of intent, memorandum of understanding or any other binding obligation of Warburg Pincus or any Warburg Pincus Fund to make these investments. Nothing herein should be relied upon as a promise or representation as to potential investments by Warburg Pincus or any Warburg Pincus Fund. No assurance can be given that any such pipeline transaction will be allocated to or consummated by Warburg Pincus or any Warburg Pincus Fund or, if any such transaction is consummated, that Warburg Pincus or any Warburg Pincus Fund will be able to implement its business plans with respect to such investment or that such investment will perform to expectations. Actual returns on unrealized or partially realized investments described herein will depend on, among other factors, future operating results, the value of the assets and market conditions at the time of disposition, legal and contractual restrictions on transfer that may limit liquidity, any related transaction costs or taxes and the timing and manner of sale, all of which may differ from the assumptions and circumstances on which the valuations used in the prior performance data contained herein are based. Accordingly, the actual realized returns on unrealized or partially realized investments may differ materially from the returns indicated herein. There can be no assurance that historical trends will continue. Case studies presented herein are for illustrative purposes only, have been selected in order to provide examples of the types of investments made by the firm and do not purport to be a complete list thereof. Case studies are compiled to illustrate the broad industry knowledge, geographic reach and multiple stages of development in which Warburg Pincus invests. It should not be assumed that investments made in the future will be comparable in quality or performance to the investments described herein. Further, references to the investments included in the illustrative case studies should not be construed as a recommendation of any particular investment or security. Warburg Pincus’ valuations of unrealized investments shown herein are based on assumptions that Warburg Pincus believes are reasonable under the circumstances, although actual realized returns will depend on factors such as market conditions, future operating results, the value of the assets at the time of disposition, any related transaction costs and the timing and manner of sale, all of which may differ from the assumptions on which the unrealized values or returns are based. Certain information was provided by the companies and certain statements reflect the firm’s beliefs as of the date hereof based on prior experience and certain assumptions that the firm believes are reasonable, but may prove incorrect. A full list of the firm’s investments and track record is available upon request. Please see Important Disclosures and Notes to Performance for more important disclosures. Where forecasts are shown in this Presentation, actual results may be materially different from such forecasts presented. These assumptions should not be construed to be indicative of the actual events which will occur. Actual events are difficult to project and depend upon factors that are beyond the control of Warburg Pincus or its respective affiliates, members, partners, stockholders, managers, directors, officers, employees and agents. Other events which were not taken into account, including general economic factors which are not predictable, may occur and may significantly affect the actual returns or performance of a fund and/or any of the companies in which a fund has invested. The recipient acknowledges that it is aware that federal and state securities laws prohibit any person who has material, non-public information about a company from purchasing or selling securities of such a company or from communicating such information to any other person under circumstances in which it is reasonably foreseeable that such person is likely to purchase or sell such securities. The inclusion of any third party logos herein does not reflect an endorsement by the entity whose logo is so included nor does it represent or imply any affiliation with such entity. Sustainability Strategy (“Sustainability”) goals are aspirational and not guarantees or promises that all goals will be met. Statistics and metrics relating to Sustainability matters are estimates and may be based on assumptions or developing standards (including Warburg Pincus’ internal standards and policies), There can be no assurance that Warburg Pincus’ Sustainability policies and procedures as described herein will continue throughout the life of any Warburg Pincus Fund and Warburg Pincus’ Sustainability policies and procedures could change, even materially. Warburg Pincus is permitted to determine in its discretion that it is not feasible or practical to implementor complete certain of its Sustainability initiatives based on cost, timing or other considerations. Sustainability factors are only some of the many factors Warburg Pincus considers in making an investment, and there is no guarantee that Warburg Pincus will make investments in companies that create positive ESG impact or that consideration of Sustainability factors will enhance long-term value and financial returns for limited partners. To the extent Warburg Pincus engages with portfolio companies on ESG-related practices and potential enhancements thereto, there is no guarantee that such engagements will improve the financial or Sustainability performance of the investment. None of the information contained herein has been filed with the U.S. Securities and Exchange Commission, any securities administrator under any securities laws of any U.S. or non-U.S. jurisdiction or any other U.S. or non U.S. governmental or self-regulatory authority. No such governmental or self-regulatory authority will pass on the merits of the offering of interests in any Fund or the adequacy of the information contained herein. Any representation to the contrary is unlawful.
IMPORTANT DISCLOSURES AND NOTES TO PERFORMANCE INFORMATION
Gross IRRs and gross Investment Multiples presented throughout this Presentation are calculated before fund-level fees, expenses and carried interest, which would reduce returns to an investor. Net IRRs, unlevered net IRRs, net Investment Multiples and net Fund Multiples reflect the effects of fees, expenses and carried interest. Past performance can provide no assurance of future results, and there can be no assurance that WP ACE will achieve comparable results, that returns generated by WP ACE will equal or exceed those of other investment activities of Warburg Pincus or that WP ACE will be able to implement its investment strategy and approach or achieve its investment objectives. While WP ACE expects to pursue a similar strategy as the Warburg Pincus Global Funds, WP ACE will have different economic terms, and is permitted to pursue a broader spectrum of investments than the Warburg Pincus Global Funds. Consequently, the performance of WP ACE, compared to a contemporaneous Global Fund, could differ materially. Certain aggregate returns shown herein reflect aggregate performance across multiple Private Equity Funds which were not managed as a single fund or portfolio, with investments that were made over a long period of time and over the course of various market and macroeconomic circumstances. These circumstances may have differed from those applicable to WP ACE. Gross IRRs, net IRRs, unlevered net IRRs and gross and net Multiples include the value of unrealized investments. Actual returns on unrealized investments described herein will depend on, among other factors, future operating results, the value of the assets and market conditions at the time of disposition, legal and contractual restrictions on transfer that may limit liquidity, any related transaction costs or taxes and the timing and manner of sale, all of which may differ from the assumptions and circumstances on which the valuations used in the prior performance data contained herein are based. Accordingly, the actual realized returns on unrealized investments may differ materially from the returns indicated herein. Prospective investors should review carefully the notes and other qualifying information accompanying the performance information throughout this Presentation.Net investment performance herein is generally shown in respect of limited partners in the aggregate at the applicable fund- or funds-level; however, net investment performance for subsets of investments are estimated (as hereinafter described). The performance of an individual investor in a fund may also differ from fund-level returns due to factors including: (i) the timing of an investor’s capital contributions, including as a result of a later subscription and related charges or, for performance measures other than unlevered net IRR, the fund’s use of borrowing, (ii) various structuring elections, including the use of one or more blocker entities on a particular transaction that were not common to all investors or other tax determinations, (iii) differences in fees or expenses allocable to certain investors as a result of fee rebates, taxes or other considerations, including fee discounts or reduced carried interest and (iv) the excuse or exclusion of an investor for one or more of such fund’s investments. Accordingly, no investor, even if participating in a fund, necessarily achieved the exact net IRR, net Investment Multiple or net Fund Multiple shown. The investment-level performance of investments held for a period of less than one year has been annualized for purposes of inclusion in performance presentation of this Presentation. Such annualized performance represents an estimate, and actual performance of any such investment will likely differ, even materially, from such estimate. “Gross profits” are presented on a “gross” basis (i.e., they do not reflect management or other fees, expenses and carried interest, which will reduce returns and, in the aggregate, are expected to be substantial). For purposes of this Presentation, loss ratios are defined as the ratio of realized and unrealized write-downs and write-offs to total dollars of invested capital in the relevant set of investments to date.
Valuation Methodology
Except as otherwise noted in this Presentation, IRRs, Multiples and total returns include realized investments and the value of unrealized investments. Investments held at June 30, 2026 are valued at their carrying value in accordance with the relevant fund’s U.S. GAAP financial statements as of that date giving effect to ASC 820 “Fair Value Measurement.” In the absence of special circumstances, all portfolio investments are valued at fair value. Fair value for publicly traded portfolio investments is determined based on the closing price of the underlying public security on the exchange that the security is principally traded. Privately held warrants on publicly traded portfolio investments are valued at fair value using various methods including option pricing models such as Black-Scholes. The fair value depends upon the contractual terms of the warrants, as well as the availability of observable inputs. Such inputs include the market value of the referenced public securities, measures of volatility (historic volatility of the referenced public securities and/or the implied volatility of comparable publicly traded options) and correlations of such inputs. Restricted and privately held portfolio investments, which may not have readily ascertainable market values, are valued at fair value, which is the estimated amount that would be received in a sale of the portfolio investment in an orderly transaction between willing market participants at the measurement date. Generally, the fair value of private investments is adjusted when a significant third-party investment or financing event has occurred or there is a significant change in the financial condition or operating performance of the portfolio investment which would indicate either an increase or decrease in fair value. Various valuation techniques and inputs are considered in valuing private portfolio investments, including purchase multiples paid in other comparable third-party transactions, comparable public company trading multiples, discounted cash flow analysis, market conditions, liquidity, current operating results and other pertinent information. When utilizing a multiples-based approach, multiples are applied to the most recent and relevant operating performance metrics of the portfolio investment as appropriate, including historical and/or forecasted revenue, EBITDA, production reserves, net income or other relevant operating performance metrics. Consideration is also given to exchange rate fluctuations for investments denominated in foreign currencies. However, because of the inherent uncertainty of valuation, the carrying values may differ significantly from values that would have been used had a ready market for the restricted and privately held portfolio investments existed and may differ significantly from the amounts realized upon disposition, and the differences could be material. Warburg Pincus’ valuations of unrealized investments are based on assumptions that Warburg Pincus believes are reasonable under the circumstances, although actual realized returns will depend on factors such as market conditions, future operating results, the value of the assets at the time of disposition, any related transaction costs or taxes and the timing and manner of sale, all of which may differ from the assumptions on which the unrealized values or returns are based. Accordingly, no assurance can be given that unrealized valuations or returns will be achieved and the actual realized return of unrealized investments may differ materially from the returns indicated herein. Summary statements of Warburg Pincus’ investment performance, as well as references to “Invested Capital”, unless otherwise indicated, include the total amount invested across all applicable Warburg Pincus funds.
Calculation of Gross and Net IRRs and Class-Level Total Returns
Gross IRRs for Private Equity Funds are calculated based upon the actual dates of cash outflows from a fund to make investments in portfolio investments and cash inflows to a fund prior to deductions for blocker-level taxes and expenses, if any, from realization events such as dispositions of securities in portfolio investments or distributions made by such portfolio investments. The value associated with the realization is the U.S. dollar equivalent of cash consideration as and when received or in the case of a distribution in kind, the realized value is determined based upon the valuation methodology determined under the limited partnership agreement for the relevant Warburg Pincus fund that distributed the securities. The valuation of in-kind distributions is determined based upon the closing price on the date of distribution for EMW Ventures, WPA, WPCP, WPCC and WPI. For WP Ventures, WPVI and WPEP, distributions in kind are valued based upon the average closing price on the 20 trading days subsequent to the date of the distribution. For WPIP, WP VIII, WP IX, WP X, WP XI, WPE, WP XII, WPC, WPFS, WPGG, WPC-SEA II, WPFS II and WPGG 14, distributions in kind are valued based upon the average closing price on the ten trading days commencing with the date of the distribution. Unrealized portfolio investments are assumed to be realized at their carrying value as of June 30, 2026, as described above under “Valuation Methodology.” Net IRRs for Warburg Pincus funds are calculated based upon the actual due dates of capital call payments by Limited Partners to the funds and the actual distributions, net of fees, expenses and carried interest, from the funds to Limited Partners as of the dates they occurred and the remaining net asset value, if any, attributable to the Limited Partners as determined for each fund as of June 30, 2026. Because net IRRs are based on the dates of contribution by Limited Partners rather than the dates of fund investments, the use of credit facilities in certain circumstances has the effect of increasing the reported net IRR of a fund. Unlevered net IRRs for Warburg Pincus funds utilize the same assumptions as net IRRs, except that they are calculated based upon the dates the funds received cash from credit facility drawdowns, and the dates the funds made credit facility repayments. Interest expenses associated with credit facilities borne by the funds are treated as capital distributions and the net asset value as of the end of each quarter is adjusted for the relevant borrowing amount. Class-Level Total Returns for WP ACE are calculated as the change in net asset value (NAV) per unit during the period, plus distributions per unit (assuming reinvestment), divided by the beginning NAV per unit. Total Returns are presented, net of management fees, performance participation allocation and fund expenses. Total Returns may be affected by subscription and redemption activity and may not reflect the experience of any individual investor. NAV is calculated based on the month-end values of investments (including debt and other securities), the addition of the value of any other assets (such as cash and money market funds), and the deduction of any liabilities, including the allocation/accrual of management fees, the performance participation allocation, and the deduction of expenses attributable to certain classes (such as servicing fees). Such calculation of NAV is unaudited and may differ in certain respects from the methodology required pursuant to accounting principles generally accepted in the U.S. (GAAP). For the calculation of NAV for financial reporting purposes, WP ACE will use GAAP.
As described above, distributions in kind are valued as per the methodologies set forth in the relevant fund agreements. The net asset value represents the fair value of the fund’s portfolio investments and cash and other assets less its liabilities. The net asset value for each fund as of June 30, 2026 is determined after all fees, expenses and unrealized carried interest have been allocated. There are a number of factors that can impact the difference between gross IRRs on one hand, and net IRRs and unlevered net IRRs on the other hand. These include carried interest, fees and expenses, the timing of capital calls versus investments, the timing of distributions versus realizations from portfolio investments and the amount, timing and investment performance associated with recycling realized proceeds. The difference between gross and net Multiples is impacted by all of the same factors except timing. As with all performance data, past performance can provide no assurance of future results.
If you have any questions, please contact wpaceevents@warburgpincus.com
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