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.