In 1992, Warburg Pincus provided the first institutional funding for the fledgling cable and telephony business in the U.K., owning approximately half of Comcast U.K. Cable Partners, a joint venture with Comcast Corp. As an active Board participant and supplier of capital, Warburg Pincus worked with Comcast and local U.K. management to build the business, including initiation of acquisitions, redesign of the company's strategy and development of the financing program. Comcast U.K. Cable Partners had an IPO in the U.S. in 1994, followed by several significant subordinated debt financings and a secondary equity offering. In late 1998, Comcast U.K. Cable Partners was acquired by NTL. In 1999, Warburg Pincus sold all of its shares in the company.

Back to Previous Page