Warburg Pincus checks out of hospitality firm with dull returns

American private equity giant Warburg Pincus has fully exited its 13-year-old investment in mid-market hotel chain Lemon Tree Hotels Ltd with below-par returns. Warburg sold a 5.7% stake in the company for Rs 280 crore ($39.4 million), before accounting for statutory levies and transactions costs, via bulk deals on Tuesday. Sovereign wealth ......