• Home
  •  
    Regions
    • Europe
    • UK & Ireland
    • DACH
    • Nordic
    • France
    • Southern Europe
    • Benelux
    • CEE
    • Asia
  •  
    Deals
    • Buyouts
    • Venture
    • Exits
    • Refinancings
    • Build-up
    • Turnaround
    • Secondaries
    • Advanced deals search
  •  
    Funds
    • Buyout
    • Venture
    • Mezzanine
    • Debt
    • Funds-of-funds
    • Secondaries
    • Fundraising pipelines
    • Advanced funds search
  •  
    GPs & LPs
    • GP profiles
    • LP profiles
    • GP news
    • LP news
    • Sponsors search
    • LPs search
  •  
    Secondaries
    • Deals
    • Funds
    • News
    • Analysis
  •  
    People
    • People moves
    • Analysis
    • In Profile
    • Q&A
    • Videos
    • Comment
  •  
    Analysis
    • In Profile
    • Fundraising
    • Q&A
    • Comment
    • Videos
    • Podcast
    • Reports
    • Data Snapshots
  •  
    Unquote Data
    • Deals search
    • Exits search
    • Funds search
    • Sponsors search
    • Advisers search
    • LPs search
    • League tables
    • Reports
  • Sign in
  • Sign in
    • You are currently accessing unquote.com via your Enterprise account.

      If you already have an account please use the link below to sign in.

      If you have any problems with your access or would like to request an individual access account please contact our customer service team.

      Phone: +44 (0)203 741 1137

      Email: Georgina.Lawson@acuris.com

      • Sign in
     
      • Newsletters
      • Account details
      • Contact support
      • Sign out
     
  • Follow us
    • Twitter
    • LinkedIn
  • Free Trial
  • Subscribe
Unquote
Unquote
  • Home
  • Regions
  • Deals
  • Funds
  • GPs & LPs
  • Secondaries
  • People
  • Analysis
  • Unquote Data
  • You are currently accessing unquote.com via your Enterprise account.

    If you already have an account please use the link below to sign in.

    If you have any problems with your access or would like to request an individual access account please contact our customer service team.

    Phone: +44 (0)203 741 1137

    Email: Georgina.Lawson@acuris.com

    • Sign in
 
    • Newsletters
    • Account details
    • Contact support
    • Sign out
 
Unquote
  • Secondaries

Tender offer now out in Permira IV's GP-led process

  • Denise Ko Genovese
  • Denise Ko Genovese
  • 02 March 2020
  • Tweet  
  • Facebook  
  • LinkedIn  
  • Google plus  
  • Send to  

A tender offer is now out to LPs for the remaining three assets in Permira's fourth vehicle, which will be extended for five years, Unquote has learned.

The current offer is part of a GP-led secondaries process – which began last year – for the remaining assets of Permira IV, according to two sources familiar with the situation.

Coller Capital and Neuberger Berman have already committed to the deal, funding a feeder vehicle to provide liquidity to existing LPs that do not wish to remain in the fund, said the first source familiar with the situation

The remaining assets in Permira IV – Genesys, eDreams and Asia Broadcast Satellite - will remain in the existing vehicle with a five-year extension, the source added.

Genesys is the most attractive of the three remaining assets, according to a third source familiar with the situation. Permira acquired the US- and France-based software group in 2012, creating a standalone business after a carve-out from Alcatel-Lucent in a transaction valued at €1.5bn. Since then, it has made 10 acquisitions. In 2016, the GP sold a minority stake in the business to fellow private equity house Hellman & Friedman.

Permira IV was raised in 2006 and is now coming to the end of its lifespan. Further opportunities for growth have been identified but no uncalled capital is left, prompting the GP-led process in order to tap a new pool of investors, the sources said.

Permira IV held a final close on its agreed cap of €11bn in September 2006. The fund originally set out to raise €8.5bn, according to Unquote Data. The fund had attracted 180 investors from around the world at the time of the final close. SVG Capital notably committed €2.8bn to Permira IV.

Permira and Coller Capital declined to comment. Neuberger Berman did not respond to a request for comment.

  • Tweet  
  • Facebook  
  • LinkedIn  
  • Google plus  
  • Send to  
  • Topics
  • Secondaries
  • Secondaries
  • Permira
  • Coller Capital

More on Secondaries

Online learning courses
Oakley Capital transfers IU Group to continuation fund

Secondaries investors including HarbourVest and TPG have backed the GP-led deal for the Germany-based private university

  • Secondaries
  • 17 May 2023
HR software solutions providers
Maguar marks first exit with HRworks move to continuation fund

EUR 235m in total equity has been raised to further grow the company via organic strategies and bolt-ons

  • Exits
  • 10 May 2023
Telecommunications and internet logistics
Charterhouse transfers Sagemcom to AlpInvest-backed continuation fund - filings

GP will make a return of over 5x MOIC on the deal for French telecoms business

  • Secondaries
  • 13 April 2023
Runners passing the baton
Bencis raises EUR 123m continuation fund for group of Fund IV assets

Secondary deal was led by Committed Advisors and will provide backing for future growth of four portfolio companies

  • Benelux
  • 30 March 2023

Latest News

Fund closes in US dollars
  • Funds
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme

Multi-family office has seen strong appetite, with investor base growing since 2016 to more than 90 family offices, Meiping Yap told Unquote

  • 05 September 2023
Clinical trials and biotechnology
  • Buyouts
Permira to take Ergomed private for GBP 703m

Sponsor deploys Permira VIII to ride new wave of take-privates; Blackstone commits GBP 200m in financing for UK-based CRO

  • 04 September 2023
Public sector software
  • Exits
Partners Group to release IMs for Civica sale in mid-September

Sponsor acquired the public software group in July 2017 via the same-year vintage Partners Group Global Value 2017

  • 04 September 2023
EMEA Public to Private M&A
  • Investments
Change of mind: Sponsors take to de-listing their own assets

EQT and Cinven seen as bellweather for funds to reassess options for listed assets trading underwater

  • 04 September 2023
Back to Top
  • About Unquote
  • Advertise
  • Contacts
  • About Acuris
  • Terms of Use
  • Privacy Policy
  • Group Disclaimer
  • Twitter
  • LinkedIn

© Merger Market

© Mergermarket Limited, 10 Queen Street Place, London EC4R 1BE - Company registration number 03879547

Digital publisher of the year 2010 & 2013

Digital publisher of the year 2010 & 2013