October 16, 2019 / 3:02 AM / 2 months ago

Private equity firm Permira closes new fund at $12 billion

HONG KONG (Reuters) - Permira, a global private equity firm, has closed its latest fund at 11 billion euros ($12.13 billion) of committed capital, the company said on Wednesday.

This latest buy-out fund, Permira’s seventh, will invest in businesses in the technology, consumer, financial services, healthcare and industrial technology industries. It has so far committed to two new investments.

Permira began raising cash for this fund at the start of 2019, and it said that existing investors as well as new ones had made commitments.

Permira’s recent investments include the acquisition of drug contract development and manufacturing company Cambrex Corp CBM.N for $2.4 billion in August, and a majority stake purchase of French cyber security firm Exclusive Group last year.

German software company TeamViewer (TMV.DE), which Permira bought outright in 2014 for 870 million euros, went public in Frankfurt last month, raising 2.2 billion euros in Europe’s biggest initial public offering of 2019.

Earlier this year, Permira closed a separate fund, its $1.7 billion Growth Opportunities Fund, which is dedicated to minority equity investments in fast-growing and typically tech-enabled businesses.

Reporting by Alun John and Julie Zhu; Editing by Christian Schmollinger and Sherry Jacob-Phillips

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