Governance

Governance

We are committed to maintaining the highest standards across all our activities – a commitment which is the foundation for our global reputation.

The board

Permira Holdings Limited is the Group holding company. The Permira group operates under the supervision of the Board of Permira Holdings Limited. The Board is comprised of our two co-managing Partners, Kurt Björklund and Tom Lister, a further two Permira Partners, Ulrich Gasse and Benoit Vauchy, and three non-executive directors, Nigel Carey, Vic Holmes and Dave Sauvarin.

The Executive Committee

Our Executive Committee, comprising Kurt Björklund, John Coyle, Alex Emery, Tom Lister, Jörg Rockenhäuser, Brian Ruder, Richard Sanders and Benoit Vauchy, is responsible for operational aspects of firm management, strategy and long-term planning.

General Partner/Manager

Each Permira fund is managed by a General Partner or Manager which is responsible for investment and divestment decisions and portfolio management. Each General Partner/Manager has appointed an Investment Committee to advise it on these matters.

Investment committees

Each Permira fund has a separate Investment Committee, which is responsible for advising the respective fund General Partners on investment and divestment decisions and the overall monitoring of the funds’ investments. The Investment Committee for each of Permira IV, Permira V, Permira VI and Permira VII comprises Kurt Björklund, Tom Lister, Jörg Rockenhäuser, Brian Ruder, Richard Sanders and Benoit Vauchy. The Investment Committee for Permira Growth Opportunities I comprises Kurt Björklund, Philip Guinand, Brian Ruder, Richard Sanders and Benoit Vauchy.

Portfolio review committees

The Portfolio Review Committee ensures appropriate oversight of monitoring the value creation progress of the Permira funds’ portfolio companies.  The PRC reviews each portfolio company at least semi-annually and advises the General Partners on portfolio management matters.  The PRC comprises Kurt Björklund, Elisabetta Frontini, Dipan Patel and Benoit Vauchy.

Conflicts of interest

Every Partner and employee must be aware of the potential for conflicts of interest to arise and has responsibility to identify and manage such conflicts. We have in place internal policies and guidelines which seek to reduce the instances when conflicts of interest arise and address conflicts that do arise in a way that protects and deals fairly with the interests of those involved. Our personal account dealing rules are an essential part of how we manage conflicts and how we ensure that confidential information is not misused. These rules help us avoid situations where personal interests might conflict with, or be seen to conflict with, the interests of investors in the Permira funds.

Relationships with portfolio companies

Permira professionals represent the interests of the Permira funds and monitor the ongoing performance of the Permira funds’ investee companies, providing support and advice when necessary. The status of the Permira funds’ investee companies is regularly assessed by the Portfolio Review Committee, the relevant Investment Committee and General Partner.

Code of business conduct and ethics

We recognised that our business and the environment in which we operate are complex and that the issues and questions that arise also are complex.  We have a Code of Business Conduct and Ethics that is intended to assist Permira partners and employees in the conduct of Permira’s business and to help guide decision-making.

Business principles

We are committed to maintaining the highest standards across all our activities – a commitment which is the foundation for our global reputation. Permira has global policies to help us ensure that we manage and operate our business prudently while complying with applicable laws and regulations. These policies cover aspects such as risk management, confidentiality and security, conflicts of interest, anti-corruption/anti-bribery and anti-money laundering. We also have a robust set of business principles to guide the behaviour of all our professionals and underpin the way we operate. All Partners and employees of Permira are expected to conduct their activities in accordance with both the letter and the spirit of these principles. We also expect each portfolio company of the Permira funds to be aware of these principles.