Permira co-chief Lister steps away from leadership role

Kurt Björklund has become sole managing partner at the private equity giant.

Tom Lister, co-managing partner at Permira, has stepped away from his role, Private Equity International has learned.

Kurt Björklund has become sole managing partner at the firm.

Lister, who has co-managed leadership at the London-headquartered private equity firm with Björklund since 2008, remains at the firm as a partner and will continue to sit on the investment committee for its latest flagship vehicle, the €11 billion 2018-vintage Permira VII. He joined Permira in 2005 to build the North American business.

“This is the fourth such leadership evolution for the firm since 1997 and reflects a long heritage of stewardship for the business rather than proprietorship,” a spokeswoman for the firm told PEI. “Since Kurt and Tom became co-managing partners in 2008, Permira has seen strong performance coupled with growth and evolution across the firm – in geography, funds, sectors, people and leadership. Tom is stepping down at a time when Permira is in a strong position, with a deep bench of talent across the company.”

Permira last year merged its financial services and industrial tech and services teams to better access opportunities presented by market conditions. With this move, the firm expects to deploy €1 billion a year into services-related companies, which will include financial services, business services and professional services.

Permira invests in four key sectors – consumer, services, healthcare and technology – with total committed capital of approximately €44 billion, according to its website. Aside from Permira VII, the firm is also investing its debut growth fund Permira Growth Opportunities I, which collected $1.7 billion in 2019.