Jörg Rockenhäuser, Richard Sanders and Federico Saruggia have all been promoted to partner at London-based private equity firm Permira, while partners Evelyn Ehlert and Graham Wrigley are to leave during the course of this year.
The restructuring comes as Permira gears up to raise its latest mega-fund. Permira has not commented on a target size for the new fund.
The firm is currently investing Permira Europe III, a vehicle closed in October 2003 on €5.1 billion.
Rockenhäuser joined Permira in 2001 and is based in the firm’s Frankfurt office. A member of the telecoms, media and telecommunications (TMT) sector team, recent transactions he has worked on for Permira include debitel and Jet Aviation. Prior to Permira, Rockenhäuser was a principal at management consultant AT Kearney.
Based in London, Sanders joined Permira in 1999 and recently worked on satellite operator deals Inmarsat and Intelsat. He worked in the M&A and high yield capital markets divisions at Morgan Stanley in London prior to joining Permira.
Previously at Milan’s Sanpaolo Finance, the merchant banking arm of IMI Sanpaolo Group, Saruggia has worked on the Cortefiel, DinoSol Supermercados, Marazzi Group and TDC transactions for the Milan office of Permira.
Ehlert leaves Permira’s Frankfurt office after 12 years with the firm to pursue personal interests, according to a statement. Wrigley, who joined the firm in 1989 and is based in London, is also retiring from the firm and will pursue interests in the not-for-profit sector, the statement added.
Permira manages a total of €11 billion in capital and has offices in London, Madrid, Frankfurt, Milan, Paris, Stockholm, Tokyo and New York. Last November, the firm announced the appointment of Forstmann Little & Company’s Thomas Lister as a managing director.
Permira launched its Tokyo office in July of last year, headed up by Guido Gamucci, a member of Permira’s operating committee. Also on the committee are the firm’s managing partner Damon Buffini, Veronica Eng, Thomas Krenz and Charles Sherwood.