Permira Debt Managers (PDM) has provided financing allowing private equity shop IK Investment Partners to take a minority stake in global research firm Third Bridge.
According to a company announcement, the financing is coming from Permira’s Credit Solutions III fund (PCS3). The investment in Third Bridge is being made from IK Investment’s IK SC I fund, according to an announcement from Third Bridge. Further terms of the financing could not be determined by time of publication.
PCS3 raised €1.7 billion on its final close, according to PDI data. The fund beat its fundraising target of €1 billion. It also more than doubled the commitments to its predecessor, which took in €800 million.
Third Bridge is a UK-based research company with offices across Europe as well as in the US and Asia. According to an announcement from the firm, the financing provided by IK Invesment’s stake will be used to develop new streams of business and work on expansion plans.
A spokesman for Permira declined to comment on the transaction beyond the company announcement.