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News 188 views last update:7 Aug 2012

Dutch ex-finance minister joins Permira

European-based private equity firm Permira has hired Gerrit Zalm, former deputy prime minister and minister of finance of the Netherlands, as an adviser. In his new role, Zalm will advise on business, economic and socio-political issues.

Zalm was minister in five Dutch cabinets from 1994 until 21 February 2007. Among his achievements is the implementation of a new budgeting system (the Zalm-norm).

He will help Permira find investment opportunities for the Permira Funds and is expected to help the funds grow their portfolio companies.

Permira has made a number of deals in the Benelux region, including a majority stake of Rotterdam-based animal nutrition group Provimi, which firm was bought in January.

The group also owns European frozen food business Iglo Birds Eye, pan-European broadcaster SBS Broadcasting, and Maxeda, a do-it-yourself retailer, along with buyout firms Kohlberg Kravis Roberts Alpinvest.

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Permira's managing partner Damon Buffini said, "Gerrit Zalm is uniquely positioned to be of great value to Permira as the firm continues to grow and mature.

"Someone of his experience is a huge asset, not just in deepening our relationships and understanding in the Netherlands and beyond, but also in helping us to think about how we engage with a wider range of people."

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