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Permira's Dipan Patel - how to scale an €80B AUM alternative asset manager

Sep 18, 2025
Dipan Patel, Co-CEO and Co-Managing Partner at Permira, brings his extensive experience in private equity investing. He discusses Permira’s impressive growth to over €80B in AUM and the role of firm culture since its 1996 inception. Dipan delves into the importance of 'good luck' in underwriting, the challenges presented by AI, and how it reshapes incumbent companies. Additionally, he explores the rising capital flows into private markets and the firm's unique growth strategy that balances integrated platforms and risk management.
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INSIGHT

Flight To Quality Drives Pricing

  • Quality assets are scarce and attract disproportionate capital during stress periods.
  • That supply-demand tension pushes pricing up for A-grade businesses.
ANECDOTE

Early Careers Shaped By Big Failures

  • Dipan shared early-career experiences at Arthur Andersen and Lehman Brothers during major collapses.
  • Those events taught him lessons about management denial and cultural blind spots.
ADVICE

Underwrite Companies, Not Macros

  • Focus on fundamentally strong companies with sticky models and scale rather than macro noise.
  • Combine those companies with governance and value-creation plans that match your capabilities.
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