Permira Advisers reached a first close of 6.3 billion euros ($6.9 billion) for its latest global buyout fund, putting it on track to reach its hard cap by the end of September, according to a letter to investors.
The first close includes the amount invested by the general partner of the fund, the document said. The buyout firm’s sixth fund will continue to focus on the technology, consumer, industrials, financial services and health-care sectors, the letter said. The total was initially touted to hit a hard cap of 7.25 billion euros, according to documents obtained by Bloomberg earlier this year.
A Permira spokeswoman declined to comment.
Since June 2015, Permira has made 5.6 billion euros from its investments across all its funds, including the sale of Intelligrated and partial exit of Genesys, according to the document. Permira’s last global fund, Permira V, closed at 5.3 billion euros in 2014. In 2006, the firm said it raised more than 10 billion euros for its Permira IV fund.
About 76 percent of Permira V’s funds have been invested into 16 companies, the letter said.