London-based Permira closes second fund at €3.53B, makes 17 investments so far

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London-based Permira, a global growth-obsessed private capital investor, announced the final close of Permira Growth Opportunities’ second fund, “PGO II”, with total capital commitments of $4B (approx €3.53B).

The funding was followed by a strong investor demand, which saw the Fund exceed its target of $2.5B and closed at its hard-cap, more than twice the size of its predecessor fund.

“Unlocking the global potential of ambitious businesses”

Permira is a global private equity firm founded in 1985, which operated under the Schroder Ventures name. After raising its first pan-European fund in 1997, the firm evolved into Permira in 2001. The firm advises funds with assets under management of approx €58B and that have backed nearly 300 businesses.

According to Permira, its funds have raised 17 buyout and growth funds since the firm’s inception. The investment strategy focuses on resilient growth, and has a sector-led and proactive origination approach. 

The investment team has expertise across four key sectors – technology, consumer, healthcare and services. The company says, “We identify businesses with long-term growth drivers, typically with a market leadership position, and exposure to global growth opportunities.”

Currently, the investment firm has more than 360 people in 15 offices spanning Europe, North America and Asia.

Permira Growth Opportunities’ second fund

In 2018, Permira launched Permira Growth Opportunities, a minority-focused growth investing strategy, to leverage its global footprint, operating resources, and sector expertise in order to create value for disruptive, high-growth companies, management teams, and founders as they accelerate and scale for the future.

The first fund was closed at $1.7B in July, 2019.

In its second fund, PGO II, the firm has already invested in four companies – AllTrails, Carta, mParticle, and Sysdig. Permira aims to build on the strong momentum of its first fund, and has taken the total number of investments made by the strategy to 17.

Phil Guinand, head of Permira Growth Opportunities, says, “We are fortunate to have partnered with businesses whose founders, management teams, investors and employees are defining their categories – this fundraise is a testament to their success and our commitment to being a long-term partner of choice for them.”

“Our mission is to back disruptors that are investing heavily in product and people, leveraging the Permira platform to support them in areas such as product leadership, international expansion, go-to-market development, strategic M&A and accessing public markets,” adds Guinand.

The Fund is backed by a diversified, long-standing, global investor base comprising blue-chip institutions including pension funds, government entities, and insurance companies.

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Vishal Singh

Vishal Singh is a News Reporter and Social Media Marketing Lead at Silicon Canals. He covers developments in the European startup ecosystem and oversees the publication's social media presence. Before joining Silicon Canals, Vishal gained experience at the Indian digital media outlet Inc42, contributing to its growth with insightful content. Despite being a college dropout, his passion for writing has driven his career in journalism.

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