Private to public Permira’s bid to woo private investors

The battle between hedge funds and private equity seems to be hotting up. Permira, one of Europe’s leading buyout firms, has struck a deal with a London-listed investment trust in an apparent bid to attract capital from investors who might otherwise plump for hedge funds. The deal address one of the key disadvantages of private equity from the point of view of private investors – their lack of liquidity. Both private equity and hedge funds promise diversification and absolute returns. But where...