First Close for Europe's Largest Private Equity Fund.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Permira has announced the first closing of a new fund, Permira IV, at just over EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 10 billion. Further commitments from a number of structured products are expected to take the fund to its agreed cap of approximately EUR 11 billion ($14 billion). The closing makes Permira IV the largest fund ever raised by a European private equity firm and one of the largest globally. The closing confirms Permira's position as one of a very small number of genuinely international private equity firms, with its six offices in Europe and one in each of New York and Tokyo. The fund will focus on large and complex buy-outs in Europe, the US and Japan, with a particular emphasis on international transactions. Damon Buffini Damon Buffini is an English businessman, who heads the private equity company Permira. Biography Born in Leicester in 1962, the son of an African American serviceman and a British woman, he was educated at the Gateway school in Leicester. , Managing Partner of Permira, said: "This fund puts Permira in a leading position in the market. As with previous funds, Permira IV will help to build stronger and more focused companies that can thrive in the ever more competitive international business environment." The fundraising was completed in approximately three months from the time the Information Memorandum Information memorandum A document detailing the project and project financing, usually in connection with a syndication. was issued in March to the date the fund was closed to new applications in June. The fund was significantly oversubscribed Refers to connecting more users to a system than can be fully supported if all of them were using it at the same time. Networks and servers are almost always designed with some amount of oversubscription, counting on the fact that everybody does not need the service simultaneously. and allocations are still being finalised. Notes to Editors About Permira Permira is a leading international private equity specialist. As an independent business, Permira is owned and controlled by its partners. The firm's team of over 95 professionals, based in Frankfurt, London, Madrid, Milan, New York Milan is a town in Dutchess County, New York, United States. The Town of Milan is in the northern part of the county. History The area that comprises Milan today was the western part of the Little Nine Partners Patent of 1706. , Paris, Stockholm and Tokyo, advises the Permira Funds with a total committed capital of more than Euro 20 billion. Since 1985, the Permira Funds have completed over 280 private equity transactions. During the last year, the Permira Funds have committed to six transactions with a combined enterprise value of around Euro 25 billion. www.permira.com Note: This press release does not constitute an offer of securities for sale in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . Interests in Permira IV (or in any entity being formed to invest in Permira IV) may not be offered or sold in the United States absent registration or an exemption from registration. No public offering of such securities will be made in the United States. |
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