Permira announces first closing of Permira Europe III

Permira announces first closing of Permira Europe III Permira, the leading international private equity firm, today announces the first closing of its third pan-European Fund, Permira Europe III. Permira has received binding commitments from investors that, together with a commitment from Permira, exceed €3 billion. Permira Europe III has so far attracted 65 investors, of which 72% (by value) are existing investors. Half of the investors are European, 40% are from North America and the rest (10%) from the Far East. The first closing comes four months after the publication of the Fund's Information Memorandum in March this year. The investment strategy for the Fund will follow that of its predecessors, Permira Europe I & II. Permira Europe III will make leveraged and unleveraged acquisitions in European businesses or in global businesses with a strong European presence, especially in Permira's preferred sectors: business services, chemicals, consumer, industrial products and services and technology. Typical deal sizes will be in the range of €100 million to €3 billion. Damon Buffini, Managing Partner, commented: "We are delighted with the high level of support from so many investors which has allowed us to move rapidly to a first close. We appreciate the confidence expressed by both existing investors and those new to Permira." - ends - Press Contacts Permira Kurt Bjorklund +46 (0) 70 373 33 02 Liz Martin +44 (0) 20 7632 1131 Permira is a leading international private equity specialist. As an independent business, Permira is owned and controlled by its partners. The firm's team of over 80, based in Frankfurt, London, Milan, New York, Paris and Stockholm advises the Permira Funds with a total committed capital which has now reached Euro 9 billion. Since 1985, the Permira Funds have completed over 260 private equity transactions. During the last 3 years, the Permira Funds have completed 13 transactions with a combined transaction value of over Euro 12 billion. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/07/24/20030724BIT00550/wkr0001.doc http://www.waymaker.net/bitonline/2003/07/24/20030724BIT00550/wkr0002.pdf