Permira Debt Managers (“PDM”) is pleased to announce the appointment of David Hirschmann as Head of Private Credit to lead the origination and execution of opportunities for PDM’s direct lending funds. David’s appointment follows that of Dan Hatcher in January 2015 to lead UK origination, bringing the total team size to 19.
PDM’s most recent direct lending fund, Permira Credit Solutions 2 (PCS2), has already completed seven transactions since its first close at approximately €400m in October 2014. The Fund seeks to address a gap in the market for medium-sized businesses which often have difficulty accessing debt capital from more traditional sources such as commercial banks or bond investors. PCS2 aims to be a provider of flexible credit solutions direct to private companies. The fund is expected to hold a final close in Q3 2015.
David joins PDM from Babson Capital Europe, where he was a Managing Director within the direct lending team. He has fifteen years of experience in European credit, with a focus on leading the origination and execution of direct lending transactions. Prior to his time at Babson, David worked at UBS Investment Bank within the Leveraged Finance and Financial Sponsors teams.