Permira reaches final close on fourth CLO fund – exclusive

The European-focused fund has raised around €275m and completed 12 transactions in the last six months.

Permira Debt Managers, the debt investment arm of the private equity group, has reached a final close on its fourth CLO fund, PDI can reveal.

The firm has raised €275 million for the fund, Permira Sigma IV. The announcement follows the first close completed in March, which saw €160 million raised. Since March, the fund has completed 12 transactions.

Sigma IV is a European-focused fund and operates with a strategy of investing in both the primary and secondary markets, with a speciality in the junior parts of the CLO capital structure.

Thomas Kyriakoudis, chief investment officer, said: “Sigma IV is the largest pool of capital that PDM has raised for the Sigma strategy. In our view this is a complex, but proven asset class with a very attractive risk-return profile for investors that have the right specialist skills.”

Aerius Associates worked as placement agent on the fund.

Established in 2007, PDM has provided more than €3 billion of debt to 100 European business. It manages a direct lending and a structured credit strategy, operating from six offices across Europe.