Permira has held the final close of its latest flagship buyout fund, Permira VIII with total capital commitments of €16.7 billion. The fund saw strong demand from investors, closing above its target size of €15 billion, which represents a ~50% increase in size compared to its predecessor fund.
Permira has held the final close of its latest flagship buyout fund, Permira VIII (P8) with total capital commitments of €16.7 billion. The fund saw strong demand from investors, closing above its target size of €15 billion, which represents a ~50% increase in size compared to its predecessor fund.
P8 will follow Permira’s thematic investment strategy of seeking to partner with businesses benefitting from long-term, structural and resilient growth drivers. Permira’s team of over 185 investment professionals will continue to back management teams globally seeking to scale their businesses sustainably across four sectors: technology, consumer, healthcare and services.
Permira has a near 40-year track record of investing in businesses where technology is, or is expected to be, a significant part of their growth trajectory.
As Permira aims to further integrate ESG and sustainability risks and opportunities into its buyout funds’ investment and value creation strategies where appropriate, the firm says a values-based investing approach will play a key role in the deployment and portfolio management of P8. According to Permira, the fund will aim to adhere to specific, fund-level targets relating to climate, gender diversity and governance, which will be reported on annually throughout its lifecycle.
P8 secured investment from a globally diversified base of international investors, including public and private pension funds, sovereign wealth funds, endowments and foundations, institutional fund managers and family offices of entrepreneurs. The fund had a re-up rate of over 90% and also attracted over 50 new investors.
P8 has already committed capital to four companies globally: Mimecast, Zendesk, Reorg and Acuity Knowledge Partners.
