UK buyout firm Permira is said to be eyeing a January closing on the adjusted €5bn target for its latest fund, ahead of its original April deadline.
According to Bloomberg, the London-headquarted firm is speaking to two US institutional investors which could each commit $200m to the firm’s fifth vehicle, Permira V.
Permira previously picked up a commitment from the University of Michigan, which allocated €15m towards its interim closing in April on €2.2bn.
Earlier this year, the firm adjusted the target for Permira V to between €4bn and €5bn, down from its initial €6.5bn target.
Permira anticipated a tricky fundraise amid the global financial crisis when it launched its fifth fund, aiming for a target well below the €9.6bn it collected for its previous vehicle in 2006. Reports also suggested the firm attempted to sweeten the deal for LPs by offering a management fee discount for early investors, or those pledging more than €200m.
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