Permira Targets $2.5 Billion for Second Growth Opportunities Fund

Permira aims to raise some $2.5 billion for its second growth fund focused on investments in smaller, growing technology companies, people familiar with the fund said.

If the London-based firm hits its target, the new fund would be 47% larger than its predecessor. Its first growth technology vehicle, Permira Growth Opportunities I LP, closed with $1.7 billion in July 2019.

Overall, Permira backs investments in consumer, healthcare, technology and services companies, according to the firm’s website. The firm invests in buyouts through its main private-equity funds and raised €11 billion (the equivalent of around $13.39 billion) for the latest, Permira VII LP, in the fall of 2019.

Its growth opportunities funds, however, typically focus on minority positions in companies that don’t fit the mandate of its flagship funds, WSJ Pro Private Equity previously reported. The strategy has a particular focus on technology and digital companies, the firm’s website stated.

Permira has backed at least eight companies through its growth strategy, the website indicates. Most recently, the firm led the $180 million Series D funding round for Nexthink SA, which valued the Switzerland-based digital employee-management software provider at $1.1 billion.

Source: Wall Street Journal