Coller Capital is leading a GP-led secondary transaction for the remaining assets of Permira IV. On the transaction’s closing, the fund’s four assets, together with a co-investment vehicle for the largest of them, will transfer into a new investment vehicle with $829 million of aggregate commitments.
Permira IV’s remaining assets comprise four software and technology companies. The largest of them, Genesys, is a market leader in cloud-based customer experience and contact centre solutions. The new investment vehicle will provide fresh capital over a five-year period to support further value creation in the companies.
This transaction enables Permira to offer the Limited Partners in its fourth fund the option either to take liquidity at this juncture or to remain invested in the assets on the terms on which they originally invested.
“This is exactly the kind of complex liquidity solution in which Coller Capital specialises, involving a portfolio of high-quality assets, anchored in fast-growing technology sectors, managed by a strong GP,” said Jeremy Coller, CIO of Coller Capital. “We have partnered successfully with Permira on multiple occasions over the years, and we very much look forward to supporting them in the development of this exciting portfolio.”