Permira looks to Chinese market

Britain’s largest private equity firm, Permira, is looking to expand into the Chinese market.

The group is pushing ahead to get in on China’s consumer boom. It is to open in Hong Kong in the late spring.

Permira’s high profile boss Damon Buffini is interested in businesses catering to Chinese citizens’ three biggest passions - shopping, gambling and nattering on their mobile phones.

Permira, headed by Damon Buffini, is eyeing businesses catering to Chinese citizens’ 3 biggest passions - shopping, gambling and talking on their mobile phones.

Mr Buffini is transferring London retail and leisure specialist James Burrell and German telecoms guru Axel Hefer to Hong Kong.

Analysts believe China will be tough for Permira as the country has barred foreigners from snaffling its expanding businesses.

Permira is adviser to 19 Permira Funds which in total are worth approximately €22 billion. These funds have invested in over 180 transactions in 15 different countries. The group is the owner of clothing chain New Look and Birds Eye foods.

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