Secondaries investor Coller Capital is leading a GP-led secondary transaction to acquire the four remaining assets of Permira’s fourth fund.
Secondaries investor Coller Capital is leading a GP-led secondary transaction to acquire the four remaining assets of Permira’s fourth fund.
On the deal’s closing the fund’s assets, together with a co-investment vehicle for the largest of them, will transfer into a new investment vehicle with USD829 million of aggregate commitments.
Permira IV’s remaining assets include four software and tech companies. The largest of them, Genesys, is a market leader in cloud-based customer experience and contact centre solutions. The new investment vehicle will provide fresh capital over a five-year period to support value creation in the companies going forward, the firm said.
“This is exactly the kind of complex liquidity solution in which Coller Capital specialises, involving a portfolio of high-quality assets, anchored in fast-growing technology sectors, managed by a strong GP,” said Jeremy Coller, CIO of Coller Capital.
The deal enables Permira to offer the LPs in its fourth fund the option either to take liquidity at this juncture or to remain invested in the assets on the terms on which they originally invested.
“We have partnered successfully with Permira on multiple occasions over the years, and we very much look forward to supporting them in the development of this exciting portfolio,” commented Coller.
