Permira Debt Managers, the debt management and advisory arm of Permira and one of Europe’s leading specialist debt investors, today announces the first close of its direct lending fund, Permira Credit Solutions II, with commitments of approximately €400m.
PCS II will take advantage of the growing opportunity presented by the European private debt market resulting from constraints around traditional lending sources. The new fund will focus on direct lending to European companies, particularly those that are not able to access global pools of liquidity.
Building on PDM’s strong debt investment track record, PCS II seeks to leverage the strength of Permira's network, relationships and industry knowledge, to originate a strong pipeline of proprietary deals. PCS II is being offered on a limited basis to institutional investors and has received backing from leading investors including pension funds, insurance companies and family offices across Europe, North America, Asia and the Middle East.
PDM has also continued to expand and strengthen its team in recent months with a combination of promotions and new hires. Most notably, Thomas Kyriakoudis, previously Head of Capital Markets, has been appointed Chief Investment Officer of PDM to oversee and coordinate all aspects of origination across the group's debt funds. In addition, Peter Gibbs will become Chief Operating Officer of PDM and will focus on enhancing and scaling operational aspects of the business. Peter will also continue his role as Permira’s Fund Counsel with respect to the firm’s private equity and debt funds.
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