PCS2 acts as sole lender in the acquisition of I@D22 September 2016
Permira Debt Managers (“PDM”), the debt management and advisory arm of Permira and one of Europe’s leading specialist debt investors, today announces that direct lending fund Permira Credit Solutions II is acting as sole lender in the financing of the acquisition of I@D, the leading French web-based network of independent real estate consultants, by IK Investment Partners (“IK”) and Five Arrows Principal Investments (“FAPI”).
The acquisition of I@D is supported by long-term debt provided and arranged by Permira Credit Solutions II.
Created in 2008 and headquartered in Lieusaint (Ile-de-France), I@D is a digital platform for recruitment, management and support of a network of exclusive independent real estate intermediaries in the residential segment who operate from home and on the field.
David Hirschmann, Head of Private Credit at Permira Debt Managers commented: “I@D is a successful and rapidly expanding digital player in the French residential real estate market, run by a highly-dedicated management team. We are delighted that Permira Credit Solutions II is backing new owners IK and FAPI and providing long-term financing to I@D in order to enable a successful next phase of growth.”