12 Jun 2014

Permira closes Permira V at €5.3 billion

Permira, the international private equity firm, today announced the successful final close of its global private equity fund, Permira V, at the hard cap of €5.3 billion (USD $7.2 billion).

The new fund will follow Permira’s long-term investment strategy of identifying market-leading businesses that benefit from structural growth drivers and have significant potential to expand internationally. Origination will continue to be led by the firm’s five global sector teams – consumer, financial services, healthcare, industrials and TMT – with an emphasis on identifying proprietary opportunities.

Permira V has already committed capital to six market-leading growth companies. These investments include: iconic footwear brand Dr. Martens, UK wealth management specialist Bestinvest, Canadian nutrition specialist Atrium Innovations, American online legal services provider LegalZoom, German speciality chemicals business CABB and, most recently, remote access software company TeamViewer. Following the completion of these investments, Permira V is expected to have called 27% of committed capital from its investors.

Permira V received strong backing from existing investors, representing 72% of total committed capital, and also welcomed a number of new investors from across the globe. The fund has a well-balanced geographic composition with approximately 40% of total commitments coming from North America, approximately 30% coming from Europe and approximately 25% from Asia.

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Permira closes Permira V at €5.3 billion

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Kurt Björklund