Permira performance: governance

Permira performance: governance

Permira believes that well-governed businesses perform better. We seek the same standards of ethical conduct, integrity and transparency in our private equity fund portfolio companies as we do of ourselves.

Culture and ethics, compliance and regulations

Communication is key to our dynamic culture. We encourage an open and engaging dialogue across sectors, offices and teams. To ensure that our behaviours reflect our values, our business principles and the Permira Code of Business Conduct and Ethics outline our expectations within the firm and for each portfolio company. Numerous global policies help us ensure that we manage and operate our business prudently while complying with applicable laws and regulations. These include risk management, confidentiality and security, conflicts of interest, anti-corruption / anti-bribery and anti-money laundering.

Our values

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ESG Steering Committee

During 2022, the ESG Group which was formed in 2010, was further formalised as an ESG Steering Committee comprising senior executives and reporting to the Board. The Committee includes cross-functional members and is responsible for guiding the ESG approach and strategy for Permira.

ESG integration is overseen by a specialist team and cross-functional ESG Steering Committee and in 2022 we continued to invest in growing our ESG expertise as a strategic priority for the firm.

Building our ESG expertise

We have further strengthened our team in 2022, with the recruitment of a dedicated ESG lead for Permira Credit, a climate specialist and an associate focused on the firm carbon foot-print and internal initiatives. We also had support from secondees from ESG specialist organisations.

In addition to expanding our ESG team, our Portfolio Review Committee has oversight of the value creation progress, including on ESG where relevant.

Investment professionals

Investment professionals – supported by the ESG team – are responsible for assessing ESG risks as part of the diligence process. In doing so, they refer to the firm’s responsible investment policy and ESG framework.

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Supply chain

We undertake an internal annual modern slavery risk assessment. In addition, we assess our main suppliers on modern slavery risks, applying risk ratings and requesting policies or further information where required. This approach has been extended year-on-year since 2016 and now covers all of Permira’s international operations.

Cyber security and data protection

Cyber security remains important for both Permira and the funds’ portfolio companies. This is partly because the sectors where Permira focuses, such as healthcare, technology, services and consumer, are highly dependent on IT systems for their continued success.

Permira in the community

The Permira Foundation, Permira Partners and colleagues give generously in their local communities, with a focus on skills and education, poverty, health, social inclusion and emergency relief.

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