Warburg Pincus is weighing a new €1bn to €1.5bn fund dedicated to defence, aerospace, and security investments tied to European resilience. The firm has pitched the vehicle to potential investors, though final terms and timing remain undecided. It would run alongside the firm’s flagship private equity strategies and lean on sector specialists Tobias Weidner and Dan Zamlong.

Rene Obermann, the firm’s Europe chair and Airbus chairman, has publicly urged the continent to strengthen its military capabilities, reflecting broader industry momentum. European governments are committing hundreds of billions to rearm and cut reliance on the U.S., creating a pipeline of opportunities for sponsors. Warburg has prior experience backing defence assets such as Consolidated Precision Products, Inrcore, Triumph Group, and Inmarsat.

The move places the firm alongside Tikehau Capital and Weinberg Capital Partners, which have already raised dedicated defence vehicles. As geopolitical priorities shift, private equity is moving quickly to finance Europe’s industrial restart.