Permira to Raise Over €4 Billion for Flagship Private Debt Fund

Permira Credit Ltd. is poised to beat a €4 billion ($4.4 billion) target for its flagship direct lending fund, according to people with knowledge of the matter who asked not to be identified because the details aren’t public.

Permira Credit Solutions Fund V is focusing on European mid-market companies owned by private equity firms. It’s overseen by Permira’s head of private debt, David Hirschmann.

A spokesperson for Permira declined to comment.

The $1.4 trillion private credit market is luring investors keen to park their cash in high-yield instruments with a floating rate that protects investors from central bank tightening. ...