Permira Debt Unit Raises $509 Million for Direct Lending

Permira Debt Managers, the debt and advisory affiliate of buyout firm Permira Advisers LLP, has raised 400 million euros ($509 million) for its second fund that will lend directly to companies.

PDM Credit Solutions II, which plans to raise more capital from investors, will focus on lending to European companies including those that can’t easily access credit, the London-based company said in a statement today.

Separately, PDM named Thomas Kyriakoudis, its head of capital markets, as chief investment officer to oversee deal origination across the group’s debt funds. Peter Gibbs will become PDM’s chief operating officer, while remaining responsible for Permira’s private-equity and debt funds, according to the statement.

Permira Debt Managers is an affiliate of Permira Advisers and operates independently of the private-equity unit. It has the ability to invest in the debt of Permira-owned companies, with the exception of the new fund, which will not back Permira deals, said a person familiar with the matter, who asked not to be identified because the information is private.

A spokeswoman for Permira declined to comment on the details of the fund.

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