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Permira Holdings Limited

PRI reporting framework 2020

You are in Strategy and Governance » Investment policy

Investment policy

SG 01. RI policy and coverage

New selection options have been added to this indicator. Please review your prefilled responses carefully.

01.1. Indicate if you have an investment policy that covers your responsible investment approach.

01.2. Indicate the components/types and coverage of your policy.

Select all that apply

Policy components/types

Coverage by AUM

01.3. Indicate if the investment policy covers any of the following

01.4. Describe your organisation’s investment principles and overall investment strategy, interpretation of fiduciary (or equivalent) duties,and how they consider ESG factors and real economy impact.

The Permira funds have delivered market-leading returns for investors for over 30 years by partnering with more than 200 ambitious businesses, with a key focus on:

  • Driving growth: We focus on companies with significant potential to grow and become global industry leaders. This growth is the core driver of returns.
  • Investing across five sectors: Our teams look beyond the macro to identify sub-sectors with significant underlying growth potential. 
  • Partnering with management: We partner with world-class management teams to unlock the fulll potential of the companies in which the Permira funds invest. 

Permira believes that a focus on sustainability is an important part of building lasting value in the funds’ portfolio companies. ESG and sustainability considerations are embedded throughout the investment process to protect and create value and are expected to be a key part of the governance of the funds’ portfolio companies.  As the ESG agenda evolves, Permira continues to strengthen its approach to integrating ESG throughout the investment lifecycle.

01.5. Provide a brief description of the key elements, any variations or exceptions to your investment policy that covers your responsible investment approach. [Optional]

Permira Debt Managers (PDM) also believes that a focus on Environmental, Social and Governance (ESG) is an important part of building lasting value in portfolio companies. PDM seeks continual improvement of ESG integration within the fixed income sector by proactively applying transparent reporting, active screening and ,where possible, direct influence on corporate behaviour. PDM is committed to ensure that potentially material ESG matters are integrated as part of the standard investment analysis for direct lending investments. While recognising that the considerations for a debt provider are different to a private equity investor acquiring a controlling stake in a company, the PDM deal teams have access to the existing ESG network and framework of Permira, and PDM has developed an approach for each of its core strategies.

01.6. Additional information [Optional].

          
        

SG 01 CC. Climate risk (Private)


SG 02. Publicly available RI policy or guidance documents

 

02.1. Indicate which of your investment policy documents (if any) are publicly available. Provide a URL and an attachment of the document.

URL/Attachment

02.2. Indicate if any of your investment policy components are publicly available. Provide URL and an attachment of the document.

URL/Attachment

URL/Attachment

URL/Attachment

URL/Attachment

02.3. Additional information [Optional].

Permira's ESG Framework is available to investment professionals through the intranet system. A high-level overview of the Responsible Investment policies and approach for private equity and PDM are available on the respective websites (link provided above and in the Fixed Income section of this report).  In addition, the Permira private equity website also includes:

  • A selection of ESG case studies from current and recently exited investments: https://www.permira.com/about/investing-responsibly/#tabs2
  • Details of Permira's governance approach, including relationships with portfolio companies and Permira's Business Principles: http://www.permira.com/governance/
  • Overview of approach to ESG/Responsible Investment in Permira Annual Reviews: https://www.permira.com/about/annual-reports/

 


SG 03. Conflicts of interest

03.1. Indicate if your organisation has a policy on managing potential conflicts of interest in the investment process.

03.2. Describe your policy on managing potential conflicts of interest in the investment process.

Permira has internal policies and procedures that seek to ensure that actual and potential conflicts of interest are identified, to reduce the instances when conflicts of interest arise and address conflicts that do arise in a way that protects and deals fairly with the interests of those involved. These policies are part of the governance arrangements by which the firm operates and are also required by the regulators in the jurisdictions in which Permira operates (further information provided below).

There is a conflicts of interest policy and policies on personal securities dealing and directorships, confidentiality and security of information. The conflicts of interest policy sets out potential conflicts that may arise, Permira's approach to managing potential conflicts of interest and procedures that must be followed in the event of any conflict. The securities dealing policy prohibits dealing in listed securities by any Permira employee. All policies are approved by the ExCo and the Permira Holidings Limited Board.  Permira employees are required to acknowledge that they have read and understood the policies through ComplySci, a compliance monitoring software tool. 

03.3. Additional information. [Optional]

The firm has entities in a number of jurisdictions and is regulated in some of these. Permira has filed with the US SEC as an 'exempt reporting adviser', with Permira Investment Advisers Limited filing for the private equity business. Permira Advisers LLP and Permira Advisers (London) Limited are authorised and regulated by the UK Financial Conduct Authority (“FCA”), Permira Advisers Limited is regulated by the Securities and Futures Commission (“SFC”) in Hong Kong, the general partners of the Permira funds are licenced by the Guernsey Financial Services Commission (“GFSC”), and Permira Luxembourg S.à.r.l is licensed by the Luxembourg Ministry of Justice and supervised by the Commission de Surveillance du Secteur Financier (“CSSF”).

Permira Debt Managers Limited (PDM) is authorised and regulated by the FCA. PDM has also filed as an "exempt reporting adviser" with the US SEC. The general partners of some of the PDM private credit funds are licensed by the GFSC.


SG 04. Identifying incidents occurring within portfolios (Private)


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