Permira reaches $6.9b first close on latest global fund

This investment includes a contribution by the GP and will target opportunities in the technology, consumer, finance, healthcare and industrial sectors. AVCJ understands the close puts Permira VI on track to reach its hard cap, previously set at EUR7.2 billion, within the year. The private equity firm declined to comment.

Permira launched the fund earlier this year with 60% of deployments slated to focus on Europe and the rest to be divided between Asia and North America. Investments are expected to range from EUR250 million to EUR1 billion per transaction across about 20 targets with enterprise values between EUR500 million and EUR3 billion.

According to AVCJ Research, Permira V, a global fund with a mandate including Japan, closed in 2014 at EUR5.3 billion after scaling back an initial EUR6.5 billion target to EUR4-5 billion. It is now understood to be 76% deployed across 16 companies. Permira IV closed at EUR9.6 billion in 2006.

Recent Asian activity by the firm includes the JPY37 billion ($350 million) acquisition of John Masters Organics, a personal care products distributor in Japan and East Asia. Last year, Permira bolstered its Japan presence with the appointment of former KKR deal-maker Ryotaro Fujii as managing director and head of Japan.

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• Topics
• Europe
• Fundraising
• Buyout
• Permira Advisers
• Japan
• Technology
• Financial Services
• healthcare
• Consumer