Firm: Permira Advisers LLP
Fund: Permira V LP
Target: $6 billion, reduced from $8 billion
Amount Raised: $579 million from U.S. investors (Update: $2.9B total in first close)
Placement Agent: None
Active in the U.S. deal arena by leading the $1.6 billion purchase of Ancestry.com last fall as well as other transactions, Permira listed its first date of sale for Permira V on April 24, according to the filing.
Facing a tough environment for private equity in Europe, Permira recently told investors its overall goal for Permira V now stands at about $6 billion by 2014, down from its earlier target of more than $8 billion, according to reports. Last month, it held its first close at just under $3 billion for the new fund, the Financial Times reported.
A spokeswoman for Permira declined to comment.
LPs in Permira IV included that New York City Fire Department Pension, which committed $5.5 million in 2006. As of Sept. 30, 2012, the pension fund contributed $4.8 million and received $1.4 million in distributed capital. The pension fund recorded a multiple of 1.2x and an IRR of 5 percent for Permira IV.
Permira plans to end its marketing for Permira V by April of next year, according to reports.
Among Permira’s more high profile holdings is Hugo Boss, which said May 3 that Permira plans to hold on to shares of the German fashion brand for nine months, up from six months.
Permira and Kohlberg Kravis Roberts & Co. may sell their controlling stake in ProSiebenSat.1 Media AG, the German broadcaster, according to reports in February.
All told, Permira currently lists about $26 billion in assets under management. Permira was once a unit of Schroders plc.