PCS3 acts as sole lender in IK Investment Partners’ minority acquisition of Third Bridge03 August 2017
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 III (“PCS3”) is acting as sole lender to finance the acquisition of a minority stake in Third Bridge by IK Investment Partners. Third Bridge is a leading player in the independent research industry, with a range of products designed to provide its investor clients with the best intelligence. The transaction is supported by long-term debt provided and arranged by PCS3 as sole lender.
David Hirschmann, Partner and Head of Private Credit at PDM commented: “We are delighted to back IK Investment Partners and the founders of Third Bridge. The company is run by an outstanding management team, and we are enthusiastic about its next phase of growth. Since the funds’ first close in December 2016, PCS3 has completed fourteen transactions and we continue to see great opportunities for our investors in the European private credit market.”