Permira, a global private equity firm, has announced that Brian Ruder and Dipan Patel will become Co-Managing Partners and Co-CEOs, while Kurt Björklund will transition to Executive Chairman, starting September 1, 2024.
According to the company, Brian Ruder joined Permira in 2008 and currently serves on Permira’s Executive Committee, chairs the Permira Growth Opportunities Investment Committee, and co-chairs the Buyout Funds Investment Committee. “Since joining, he has been instrumental in building the firm’s Technology sector team, which he co-led until 2023, and has been involved in several of the firm’s most notable transactions, including Ancestry, Genesys, Informatica, LegalZoom, Lytx, Magento, McAfee, Relativity, Renaissance Learning, TeamViewer, and Zendesk,” they noted.
Dipan Patel, on the other hand, is Co-Head of Permira’s Consumer sector team and a member of the Buyout Funds Investment Committee and Permira’s Executive Committee. He began his career at Permira in 2009 in the Technology team before joining the Consumer team in 2018 and has been key in extending Permira’s long track record of consumer investments into the digital age. Dipan has worked on several transactions, including Adevinta, AllTrails, Ancestry, Axiom, Boats Group, Informatica, LegalZoom, The Knot Worldwide, Renaissance Learning, and Yogiyo.
Following this announcement, Kurt Björklund, Executive Chairman of the firm, stated, “Dipan and Brian have been strong leaders and vital contributors to Permira’s strategy, culture, and investment track record for over 15 years. They embody Permira’s values of collaboration, creativity, and integrity and have collectively worked on 22 investments across Permira’s sectors, representing approximately €17.5 billion of capital, including LP co-investments. Appointing Brian and Dipan as Co-Managing Partners marks the next chapter in our long history of successful leadership evolution and reflects our commitment to careful firm stewardship. I am excited to remain actively involved as Executive Chairman and to work closely with them as we continue to grow the firm and enhance performance for the benefit of our investors and our team.”
On their appointment, Brian Ruder and Dipan Patel, Co-Managing Partners and Co-CEOs of Permira, commented, “It is a privilege to be the next leaders of Permira, a firm that has been shaped by the thoughtful guidance of Kurt and previous Managing Partners. Permira’s strategy is to generate enduring investment returns by supporting and building exceptional businesses. Alongside Kurt, our partners, and colleagues in our global offices, we are excited to write the next chapter of our firm.”
Regarding Kurt Björklund, in 2008, he became Co-Managing Partner alongside Tom Lister, who retired in 2022, before becoming the sole Managing Partner in 2021. Over the past 16 years, the firm has expanded its investment focus and range of products in private equity and credit, nearly tripling the size of the team and raising eight private equity funds and over 30 credit vehicles in total, representing approximately €60 billion of capital.
