Permira Ready to Raise Successor to 5.3 Billion-Euro Buyout Fund

  • Firm has invested two-thirds of earlier fund, Bjorklund says
  • Permira returned record amount to its investors in 2014

Permira Advisers, one of Europe’s biggest private-equity firms, may soon be ready to start raising money for a successor fund to a 5.3 billion euro ($6 billion) pool, according to Co-Managing Partner Kurt Bjorklund.

The firm has so far invested two-thirds of its fifth buyout fund, which started accepting investor commitments in early 2013 and ended raising money in 2014, Bjorklund said in an interview in Tokyo on Thursday.

“We’ve always expected to invest that pool of capital in three years,” Bjorklund said. “You can deduct that we would probably be raising more capital soon,” he said, declining to comment further on fundraising because of regulatory restrictions.

Permira, with 25 billion euros under management, was founded in 1985 and traces its origins to investment bank Schroders Plc. The firm in 2014 returned 5.6 billion euros to its investors after profitable sales of assets, a record in Permira’s 30-year history, according to Bjorklund and Ryo Fujii, managing director and head of Japan at Permira.

Private-equity firms pool money from investors including pension plans and endowments with a mandate to buy companies within about five to six years, then sell them and return the funds with a profit in a cycle lasting about 10 years.

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