Permira’s debt business up and running

The European equity powerhouse has recruited a full team of ex-bankers to support the launch of Peter Combe’s lending unit.

Peter Combe, a former co-head of Lehman Brothers leveraged finance arm, has fleshed out his launch team for Permira Debt Managers, the buyout firm’s lending business.

Combe has recruited four senior debt specialists to support him. Joe Chickey, a banker from CIBC and RBS; Ariadne Stefanescu and Taniya Momin, both from JP Morgan, and Faye Hamlet from Lehman are all joining Combe.

The firm expects to raise between €400 million ($520 million) and €500 million for its first collateralised loan obligation fund.

Permira lured Combe from Lehman Brothers to run the new division in December. Long-standing Permira partner Guy Davies is taking on the role of linking back to the mainstream private equity part of the business.

The development of a lending arm mirrors UK rival CVC Capital Partners expansion under the Cordatus badge, led by former Deutsche banker David Wood. CVC’s outfit has closed its first CLO on €452 million.