Permira Private Equity

Permira Private Equity | Tracker Profile

The following is part of our ongoing effort to follow private equity firms across the industry in the Private Equity Tracker Tool. Permira is a European-based private equity group that invests across the globe.

The History of Permira
'Permira was founded in 1985 and has made over 190 private equity investments. We raised our first pan-European fund in 1997, investing out of four offices in Frankfurt, London, Milan and Paris. Since then we have continued to grow steadily and today are present on three continents. We have an international team of investment professionals with a wide range of backgrounds and experiences. Today, the firm's teams advise funds with a total committed capital of approximately €20billion (US$28 billion).'

Story #1:

Permira, the private equity firm, is allowing its cash-strapped investors to cut payments to its fund by as much as 40 per cent.

Last month, The Times disclosed that SVG Capital, a listed fund of funds whose primary investment is in Permira, had asked to cut back on its promised financial commitments to the private equity house.

Yesterday, SVG said in an announcement to the London Stock Exchange that all investors to Permira would be allowed to cap their commitments to the Permira IV fund at 60 per cent of the amount that they agreed to contribute when the fund was raised in 2006.

Permira estimates that it could lose as much as £1.6 billion from its €11 billion (£9.5 billion) current fund. However, because it is already 52 per cent invested, the decision will cut Permira's spending power for the next four years by as much as a third.

Source

Story #2: Veronica Eng Takes Over Permira's Investment Committee

Veronica Eng will cement her position as one of the most powerful women in European private equity by taking over from Damon Buffini to chair Permira's investment committee when he steps down next year.

The 56-year-old Singaporean is Permira's "fund-minder" - making sure the funds keep to their investment criteria.

Famed for her attention to detail, and capable of killing a planned investment with just a few well-chosen words, Ms Eng will have the final say on which deals Permira does and which it rejects from next June.

Mr Buffini is to step down as chairman, but will stay on as a full-time partner and retain his seat on the group's board and investment committee.

Ms Eng has been with Permira since it was founded by Nicholas Ferguson as Schroder Ventures in 1985. Read More...

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Tags: Private Equity, Private Equity Permira, Permira Capital, Permira Buyout, Permira Capital, Permira Investment, Permira Limited Partners, Permira Investors, Permira Capital Investment

Link to This Resource: Permira Private Equity

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