Permira

Private credit is evolving, but discipline remains the differentiator. The latest Private Equity Wire® x Arcesium report highlights a market at an inflection point, as managers navigate shifting risk-return dynamics and increasing complexity. As the market scales, competitive edge is increasingly shaped not just by where firms invest, but how they operate, with greater emphasis on data, platform integration and underwriting discipline. Claire Harwood, Managing Director and Co-Head of Direct Lending at Permira Credit, highlights that while new instruments and strategies continue to emerge, many follow cyclical patterns, and that maintaining a long-term lens, rather than responding to short-term trends, is critical. She also emphasises that innovation and diversification need to remain aligned with the underlying investor base, and that for us, scale can unlock greater “information velocity”, enabling insights from across the Permira platform to directly inform underwriting decisions. Read the full report here: https://lnkd.in/eZc8TvCM

In a new episode of the Bloomberg Intelligence Credit Edge podcast, Ian Jackson, Head of Permira Strategic Opportunities at Permira Credit, discusses the opportunity set emerging across credit markets. The conversation explores several themes shaping today’s environment: 🔹 The macro backdrop, including geopolitics, energy prices and the rates outlook, and why resilience remains central to our credit investing approach 🔹 AI disruption risk, which we view as sector-agnostic, with a focus on identifying business models facing structural pressure rather than predicting winners 🔹 Dislocation in software loans and the growing bifurcation between flow and complex opportunities in opportunistic credit, and how the platform’s private equity insights support Permira Credit’s positioning Listen to the full conversation here: https://lnkd.in/e9-a_Abu

“The defining trait of market leaders isn’t their position, it’s their rate of learning.”   For Jim Freeman, Senior Adviser to Permira, that belief is shaped by experience, from launching and scaling Prime Video at Amazon to supporting Zalando’s growth to €14 billion GMV.   Today, he works closely with Permira’s consumer-tech portfolio companies across everything from AI strategy to performance marketing, product, and talent.

In our latest AI in the Portfolio report, it's clear #AI is no longer sitting in pilots or side projects.   Today, every company has a GenAI use case live, with AI already contributing hundreds of millions in expected revenue. Across sectors, we’re seeing AI show up in the core of the business, shaping products, streamlining workflows, and starting to drive measurable operational impact.    Featured portfolio companies: Acuity Analytics, Allegro, Cambrex, Evelyn Partners, Genesys, Mimecast, Neuraxpharm, Octus, Quotient Sciences, Seismic, Squarespace, Valeris, Zendesk   Download the full report: https://lnkd.in/g-sycqCd

At last week's Actum Group Private Equity Value Creation Forum, Permira brought perspectives across both #AI and commercial #valuecreation.   Ben Rogers explored how #GenAI is reshaping the investment lifecycle - from AI-enabled, forward-looking due diligence to scaling portfolio use cases through GenAI centres of excellence. The conversation also dug into the practical challenges of implementing Agentic AI at scale, including talent, data foundations, change management, and adoption.   Riccardo Basile discussed the real mechanics of revenue growth - including why portfolio companies need to rethink funnel KPIs and lead times as sales cycles lengthen - and emphasized the importance of fixing products to meet consumer demands before focusing on sales improvements.   And to top it off, it was great to see our work recognised at Actum's 2026 Private Equity Value Creation Awards in the Value Creation Innovation category for our Agentic AI work with Acuity Analytics. *** The Actum 2026 Private Equity Value Creation award was determined by Actum Group in 2026 based on their own award methodologies and criteria for the period covering 2025. Permira did not pay to obtain this award.

Permira Credit Managing Director and Portfolio Manager Charlotte Claraco spoke at FT Live Euro CLOs 2026 in London, joining a panel on the evolving opportunity set for #CLOs as default rates begin to normalise. The discussion explored the 2026 outlook for liquid credit, highlighting key risks and opportunities, and underscoring the importance of credit discipline and sector expertise in navigating today’s volatile environment. Thank you to FT Live for convening an insightful and timely discussion. #EuroCLOs

We’re pleased to announce the full exit of our Growth Equity investment in AltamarCAM Partners, through the sale to Mercer, a global leader in investment and wealth solutions. Since the Permira funds’ investment, AltamarCAM has delivered consistent AUM growth, grown its secondaries and SMA offerings at scale, reinforced its presence across key European markets, and continued to deepen its operational platform and governance foundations to support long‑term, scalable growth. This transaction marks another strategic exit for Permira and a successful milestone for our Growth Equity strategy, focused on backing midsized companies through a model centred on governance, alignment and active partnership. We are grateful to have partnered with AltamarCAM’s founders and management team during this period of growth and look forward to seeing the business continue to build on its strong foundations in its next phase with Mercer.

In an ever-changing technology landscape, embedded expertise matters. Permira’s network of Senior Advisers brings decades of experience building, scaling and leading some of the world’s most influential technology companies. Their insight helps inform how we evaluate opportunities and support management teams through periods of rapid change - never more important than during the AI platform shift that we and our portfolio companies are navigating today. Hear from John Kim, Koen Köppen, Amol K., Simon Segars and Bruce Chizen on how deep sector expertise helps shape our perspective on technology investing.

Exciting news from Permira-backed Zendesk. The acquisition of Forethought is expected to expand AI Agent offerings on the Zendesk Resolution Platform for AI-powered service. Zendesk orchestrates autonomous and human agents in a unified workspace with built-in learning loops for continuous improvement from every conversation. We’re pleased to back Zendesk as it continues to drive innovation in customer and employee service and expands its AI offering beyond the Zendesk ecosystem.

"Today, generative AI is table stakes in our portfolio."   The most compelling platforms combine strong engagement with the ability to expand into new services, use cases and markets. Gen AI is accelerating that expansion, helping platforms anchor digital ecosystems and scale how consumers connect, choose and engage.    See more from David Erlong, Partner and Co-Head of Consumer, on how Permira supports consumer internet businesses in driving long-term, technology-enabled growth.