Permira said Oct. 16 that it closed its latest buyout fund on its 11 billion euro ($12.13 billion) hard cap. Permira VII will invest in technology, consumer, financial services, healthcare, industrial tech and services.
Permira, the global private equity firm, has held a final closing for its latest buy-out fund Permira VII (“P7”), reaching its hard cap with total commitments of €11bn.
P7 will follow Permira’s long-term strategy of investing in market-leading businesses that benefit from strong and resilient underlying growth drivers. The Fund will continue to deploy across Permira’s key sectors: Technology, Consumer, Financial services, Healthcare, Industrial Tech and Services.
The Fund was strongly supported by existing investors. In addition, a substantial number of new relationships across multiple geographies made commitments to P7.
Tom Lister, co-managing partner at Permira, commented:
“We are pleased to have achieved such a strong fundraising and particularly to welcome new investors and geographies alongside our existing relationships.”
Kurt Björklund, co-managing partner at Permira, added:
“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.”
Fundraising for P7 commenced in January 2019. P7 has already committed to two new investments.
Earlier this year Permira closed its $1.7bn Growth Opportunities Fund dedicated to minority equity investments in fast-growing and typically tech-enabled businesses.