U.K.-Based Permira Preparing £5.9-Billion European Fund

London -- Permira, a U.K.-based private-equity firm, announced
that it is planning to raise £5.9 billion for an enormous buyout fund.
Permira said it would use the fund, which will be the largest
European private-equity fund in history, to invest in companies
based in Europe. Permira IV will surpass a £4.2-billion fund raised
by U.K.-based rival CVC Capital Partners and a £3.8-billion fund
raised by BC Partners last year. Permira specialises in the
consumer, chemical and industrial sectors, but also invests heavily
in technology, media and telecommunications. SVG Capital, an
investment firm that specialises in acquiring stakes in private-
equity funds, has already earmarked more than £1.9 billion for the
fund, Permira said.
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