Permira Credit

David Hirschmann serves as Chief Executive Officer and has led the firm since its founding in 2007. He was previously a partner at Permira's private equity business. Investment committees for each strategy — direct lending and liquid credit — are staffed by senior partners who have operated through multiple European credit cycles.

Permira Credit was seeded by Permira's partners but operates as an independent investment manager with its own investment committees, limited-partner base, and regulatory registrations. The credit business does not invest capital from Permira's buyout funds. However, Permira Credit can source deals through the private equity team's sponsor and corporate relationships, giving it a proprietary origination channel unavailable to standalone credit managers.

The firm manages commingled direct-lending funds, European CLOs, and separately managed accounts for large institutional mandates. On the private side, Permira Credit typically leads or co-leads unitranche and senior-secured facilities for mid-market sponsor-backed companies in Western Europe.

The direct-lending strategy focuses on European mid-market companies with enterprise values generally between €75 million and €500 million. Hold-size positions typically range from €30 million to €150 million, with the firm positioning as a lead arranger rather than a participant in broadly syndicated processes.

The firm concentrates on Western European markets, with the highest deal activity in the United Kingdom, Germany, France, and the Benelux region. Its office footprint in London, Paris, and Luxembourg supports local origination and portfolio monitoring across these jurisdictions.