PE firm Permira makes first close of debut growth fund at $1.3b: Report

Photo: Bloomberg

European private equity firm Permira has made the first close of its debut growth fund – Permira Growth Opportunities I – at $1.3 billion, according to a report by Private Equity International.

The PE firm is targeting $2 billion for the growth fund.

The PEI report said the London-based firm has already made its first investment from its inaugural growth fund. Permira picked up a strategic stake for an undisclosed amount in Swedish fintech startup Klarna in July last year.

Two weeks ago, reports had surfaced that Permira has put its first Asia-focused fund on hold, for which it was targeting to raise $1.5 billion.

In Asia, the firm has invested more than $3 billion in companies including Galaxy Entertainment Group, Sushiro Global Holdings and Tricor Holdings. In January this year, Permira acquired Australia’s I-Med Radiology from Swiss PE firm EQT Partners and other investors.

Last week, Permira agreed to invest $350 million in US online marketplace WeddingWire, emerging as a major shareholder in the latter.

Founded in 1985, Permira has a presence across 14 offices in Europe, U.S. and Asia. It has made over 200 PE investments in five key sectors – consumer, financial services, healthcare, industrials and technology.

Also Read:

PE firm Permira puts $1.5b debut Asia fund on hold: Report

Japan Post’s $1.1b PE fund to team up with global buyout firms KKR, Permira, others

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.