Permira hires former Arm CEO as technology adviser

In his new role, Segars will support the team with investment activity and value creation in the portfolio. He will also serve as adviser to the management teams of technology companies in the GP’s portfolio, according to a press release.

His appointment follows the additions of Barry O’Sullivan, former executive VP and general manager of digital and AI for Permira portfolio company Genesys, and former Adobe’s executive VP and CFO Mark Garrett, in 2021. They both serve as senior technology advisers to the firm.

Segars joins Permira after spending more than 30 years at Arm, where he was the chief executive from 2013 to 2022. Having joined the UK-based company in 1991 as one of its first employees, Segars helped drive technical and business innovations throughout his tenure that transformed the company into one of the world’s leading computer technologies. He also played a key role in leading Arm through its take-private acquisition by SoftBank in 2016.

Permira is deploying equity via its Permira Growth Opportunities II fund, which held a final close on USD 4bn in January 2022 and Permira VII, which held a final close in October 2019 on its hard-cap of EUR 11bn, according to Unquote Data. The firm also pre-launched in July 2021 Permira VIII with a target of USD 15bn. The fund is expected to follow the strategies of its predecessor successful funds and invest globally in buyout opportunities.

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