Permira Boosts Direct-Loans Business With 1.1 Billion-Euro Fund
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Permira Advisers expanded its direct-lending business, setting up a 1.1 billion euro ($1.2 billion) European fund, as traditional banks pull back from the loans market.
The London-based company’s debt-management arm completed a capital-raising drive for its Permira Credit Solutions II fund, with final pledges totaling 800 million euros, the company said in a statement on Wednesday. The money will be offered to medium-sized businesses that are “currently being impacted by a broad reduction in lending from more traditional providers,” Permira Debt Managers, which is managing the fund, said.