Permira names financing group head replacement

Permira has promoted Max Biagosch to become head of its financing group, replacing Guy Davies, who retires later this year after 17 years at the firm.

Davies was made a partner in 2001 and has worked on numerous Permira deals, including buyouts of chemical company Cognis, directory business Seat PG, clothing retailer New Look and semiconductor group Memec. He will retire from the firm later this summer, according to the firm.

Biagosch, a principal in Permira’s consumer team and a member of the financing group, will manage the firm’s “key banking relationships and drive financing initiatives for new investments as well as across the portfolio”, it said in a statement. He begins work in the post with immediate effect.

Tom Lister, co-managing partner of Permira, said: “Max has extensive experience in securing financing for the funds’ investments and working with portfolio companies to optimize their capital structures.”

Although a principal at present, Permira has a history of promoting to partnership the heads of its sector team or offices. Earlier this year for example, it appointed Henry Chen and Alex Emery as co-heads of its Asia operations and promoted them both to partner.

Biagosch previously worked for French investment bank BNP Paribas prior to joining Permira. At BNP Paribas, he worked in the leveraged finance and high yield group as a director. Prior to that, he spent five years at Deutsche Bank in London, initially in M&A and then in leveraged finance.

At Permira, he has worked on deals including the firm’s buyout of Galaxy Entertainment Group and the acquisition of Findus Italy by portfolio company the Iglo Foods Group.