(Bloomberg) -- Permira is nearing a close for its seventh buyout fund, which has surpassed its 10 billion-euro ($11 billion) target, according to people with knowledge of the situation.
The private equity firm is still gathering cash from investors and expects to receive additional commitments from its own general partners, said the people, who asked to not be identified because the matter isn't public. The firm raised 7.5 billion euros in 2016 for its sixth fund.
Institutional investors continue to pour clients' money into private equity along with venture capital, real estate and other alternative investors as they seek increasingly elusive returns. These groups are raising about $1.5 trillion to invest across their asset classes, according to data compiled by Bloomberg.
Permira, with offices in Europe, the U.S. and Asia, will use the cash to continue investing across its key investment sectors: consumer, financial services, health care, industrials and technology, the people said.
A representative for Permira declined to comment.
To contact the reporter on this story: Sarah Syed in London at ssyed35@bloomberg.net
To contact the editors responsible for this story: Dinesh Nair at dnair5@bloomberg.net, Amy Thomson, Michael Hytha
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