Global PE firm Permira closes seventh buyout fund at $12b

Photo: Bloomberg

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.

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.