Permira appoints Hirschmann as head of private credit

Hirschmann will lead origination work for PDM's direct lending fund, which reached a €400m first close in October last year. According to the firm, the vehicle has already made seven investments and is expected to reach a final close in Q3. The fund focuses on providing credit to mid-sized businesses unable to borrow neither from banks nor the bonds market.

Hirschmann joins after 13 years at Babson, where he was managing director in the direct lending team. He joined the firm in 2002, following a two-year stint at UBS. Hirschmann previously worked at ABN Amro and Schroder Salomon Smith Barney.

The appointment increases the size of PDM's team to 19 professionals.

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