B R E A K I N G
Warburg Pincus Opens Satellite Office
Dateline: Newark, NJ
November 18, 2009
In a bold and innovative move, the venerable New York private equity firm of Warburg Pincus LLC has leased just 45 square feet of office space in the federal district courthouse — in Newark, NJ.
The refurbished janitors’ closet sits seven steps from the walnut-paneled door to Judge Cavanaugh’s trial courtroom.
The sign outside the closet-cum-office reads:
Fred Hassan — Senior Adviser,
Warburg Pincus — NJ Branch Office
Asked to comment, a senior Warburg human resources executive said that this takes the idea of "hotelling" one’s office space — in a logical and convenient place — one step beyond "tele-commuting":
. . . .It just makes sense — Mr. Hassan will spend endless weeks on trial here, in the coming year, so why not leverage this, and reduce his commute time?
Yeh — the Choo-Choo to arrive ultimately at 450 Lex, in Manhattan (or a stretch Bentley-limo and driver, more likely) — are both so passe, right?
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