Permira Growth Opportunities closes second fund at $4 billion

  • The Fund was oversubscribed and closed at the hard-cap, more than twice the size of its predecessor
  • Permira will continue to be a partner of choice for disruptive, high-growth technology and digital companies with global ambition

Permira, a leading, growth-focused, global private equity firm, today announced the successful final close of Permira Growth Opportunities’ second fund (“PGO II” or the “Fund”), with total capital commitments of $4 billion. Following strong investor demand, the Fund exceeded its target of $2.5 billion and closed at its hard-cap, more than twice the size of its predecessor fund.

Permira launched Permira Growth Opportunities, a minority-focused growth investing strategy, in 2018 to leverage its global footprint, operating resources and sector expertise to create a differentiated approach that creates value for disruptive, high-growth companies, management teams and founders as they accelerate and scale for the future. The strategy builds on the firm’s 30+ year proven track record in technology and digital investing to be a partner of choice for entrepreneurs, management teams, existing investors and board members.

PGO II has already partnered with four market leading companies – AllTrails, Carta, mParticle and Sysdig – building on the strong momentum of the first fund and taking the total number of investments made by the strategy to 17.
“We are fortunate to have partnered with businesses whose founders, management teams, investors and employees are defining their categories – this fundraise is a testament to their success and our commitment to being a long-term partner of choice for them,” said Phil Guinand, Head of Permira Growth Opportunities. “Our mission is to back disruptors that are investing heavily in product and people, leveraging the Permira platform to support them in areas such as product leadership, international expansion, go-to-market development, strategic M&A and accessing public markets. We believe strongly in our approach and are excited to continue partnering with teams around the world as they transform their businesses into industry leaders.”

“The PGO strategy leverages our global footprint and proven expertise in technology and digital investing to execute quickly,” added Kurt Björklund, Managing Partner at Permira. “We are grateful for the level of support from both new and existing investors, and look forward to continuing to deliver value for them following this significant firm milestone.”

The Fund is backed by a well-diversified, long-standing, global investor base comprising blue-chip institutions including pension funds, government entities and insurance companies.

Permira Growth Opportunities closed its first fund in July 2019 at $1.7 billion.

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