Contrast this with last October's buy-out of Neiman Marcus, a Dallas icon and a rival of Macy's, led by Texas Pacific and Warburg Pincus, two private-equity firms.

ECONOMIST: Leveraged debt

More than half of Vodafone's purchase--5.6%--was from American private equity firm Warburg Pincus, while the remaining 4.4% was from Mittal himself.

FORBES: Magazine Article

Private equity shop Warburg Pincus and William Ackman of hedge fund Pershing Square Capital Management have each earned a place among Wall Street's upper reaches by making smart investments.

FORBES: Bets Down

Warburg Pincus has also made investments in China's logistics sector, which the private-equity company sees as a way to benefit from rising domestic consumption.

WSJ: Investors Target Logistics Property in China