Permira Credit has successfully raised €4.2bn for its fifth direct lending fund

London-based Permira Credit has closed its fifth direct lending fund, Permira Credit Solutions Fund V (PCS5), at €4.2bn, above its €4bn target.

The fund, which is already 37% invested and committed, aims to provide long-term lending to mid-market companies across Europe.

David Hirschmann, head of private credit at Permira Credit, said that the fund’s capital would be deployed “in a growing market that continues to present attractive risk-adjusted opportunities in the current economic backdrop”.

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Assets under management of the Permira Credit platform have tripled over the past five years to €16bn.

Source:  Private Equity News

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