Leadership Transition at Permira: Ruder and Patel to Lead as Co-CEOs

Permira, the global private equity firm, has announced a leadership transition effective September 1, 2024. Brian Ruder and Dipan Patel will step into roles as Co-Managing Partners and Co-CEOs, while Kurt Björklund will move to the position of Executive Chairman.

Brian Ruder, who joined Permira in 2008, currently serves on the Executive Committee, chairs the Permira Growth Opportunities Investment Committee, and co-chairs the Buyout Funds Investment Committee. He has been pivotal in building the firm’s Technology sector team and has played a significant role in numerous high-profile transactions, including Ancestry, Genesys, Informatica, LegalZoom, Lytx, Magento, McAfee, Relativity, Renaissance Learning, TeamViewer, and Zendesk.

Dipan Patel, who joined Permira in 2009, is Co-Head of the Consumer sector team and serves on both the Buyout Funds Investment Committee and the Executive Committee. Initially part of the Technology team, Patel transitioned to the Consumer team in 2018, driving the firm’s consumer investments into the digital era. He has been involved in transactions such as Adevinta, AllTrails, Ancestry, Axiom, Boats Group, Informatica, LegalZoom, The Knot Worldwide, Renaissance Learning, and Yogiyo.

Kurt Björklund, the outgoing Managing Partner transitioning to Executive Chairman, commended the new leaders. He remarked that Dipan and Brian have been crucial to Permira’s strategy, culture, and investment success for over 15 years, embodying the firm’s values of collaboration, creativity, and integrity. He emphasized their extensive experience with 22 investments across various sectors, amounting to approximately €17.5 billion in capital. Björklund highlighted that their promotion to Co-Managing Partners marks a new chapter in the firm’s leadership and dedication to stewardship. He also expressed his anticipation of working with them to further grow and improve performance for investors and the team.

Kurt Björklund’s tenure at Permira began in 2008 when he became Co-Managing Partner alongside Tom Lister, who retired in 2022. Björklund became the sole Managing Partner in 2021. Over his 16-year tenure, the firm expanded its investment focus and product range in private equity and credit, nearly tripled its team size, and raised eight private equity funds and over 30 credit vehicles, representing approximately €60 billion in capital.

Ruder and Patel conveyed their enthusiasm for their new roles, stating that leading Permira is an honor, shaped by the thoughtful guidance of Kurt and previous Managing Partners. They noted that Permira’s strategy aims to generate lasting returns by supporting and building exceptional businesses. They expressed their excitement about collaborating with Kurt, their partners, and colleagues worldwide to embark on the firm’s next chapter.

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