Private equity firm Permira has closed its latest buyout fund — Permira VII, or P7, — at 11 billion euros (approximately $12 billion), according to an announcement.
P7 is 3.5 billion euros larger than its predecessor, Permira VI, which was closed in 2017.
The latest fund was backed by both existing investors and new ones, Permira said.
P7 will invest in businesses in the technology, consumer, financial services, health care, industrial tech and services sectors. It has already committed to two new investments.
“We are encouraged by the opportunities that our sector teams and geographic offices identify and have confidence that we can continue to build on our successful track record, although discipline remains paramount given the challenging environment for investing,” said Kurt Björklund, co-managing partner at Permira.
Headquartered in the UK, the $48-billion private equity firm also operates Asia offices in Tokyo, Hong Kong, Seoul and Shanghai.
After commencing operations in the Asia Pacific in 2005, Permira has to date deployed some $3.6 billion in this region, including investments in Arysta LifeScience (Japan), Galaxy Entertainment (Macau), Grobest (Taiwan), I-MED (Australia), Sushiro (Japan), Topcast (Hong Kong) and Tricor (Hong Kong).
“We believe that there is a significant opportunity for Permira, across our five core sectors, to invest in high-performance companies that will benefit from our capital and expertise,” commented Permira’s head of Asia, Alex Emery.
He added that the firm will look at all types of companies ranging from family-owned businesses to carve-outs from major corporations and opportunities in the secondary investment market.
Earlier this year, Permira closed its $1.7 billion Growth Opportunities Fund dedicated to minority equity investments in fast-growing and typically tech-enabled businesses.
