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Permira’s Brian Ruder Talks AI, Squarespace Acquisition, and the Value of Co-Leadership
In a recent conversation with TechCrunch, Brian Ruder, the head of private equity firm Permira, discussed the company’s strategy for investing in quality assets, its approach to co-leadership, and the potential for AI-driven growth.
Ruder emphasized that while some private equity firms prioritize short-term gains by buying companies in trouble, Permira instead focuses on acquiring businesses with strong fundamentals. “Our strategy is to find best products in really good markets and back those,” he explained. This approach often involves retaining the founder or CEO of the acquired company, as opposed to imposing outside management.
This mindset was echoed in the firm’s recent acquisition of Squarespace, a website-building platform that has gone public once before, in 2018. The private equity firm purchased an approximately 25% stake in the company for $1 billion earlier this year. When asked about the decision to keep Squarespace’s original founder and CEO, Anthony Casalena, at the helm, Ruder noted that Permira is not interested in buying companies solely for their financial value.
“We are believers that we can generate better returns by empowering the people who built these businesses,” he said. “The vast majority of private equity on our scale is all about maximizing EBITDA margins in the near-term, but we are believers that we can generate better returns to the power of compounding behind great unit economics.”
Ruder also touched on the potential for AI-driven growth and how Permira views its role as not just a passive investor, but an active partner. “We have always been very interested in companies with really strong data assets,” he said. “The idea that you can buy companies with a lot of data, or capabilities around AI, and then amplify those through the application of capital, I think is a compelling story.”
Ruder’s comments highlight Permira’s unique approach to private equity investing, which prioritizes long-term value creation over short-term financial gain. As the firm continues to grow its portfolio of high-quality assets, Ruder’s emphasis on collaboration and co-leadership suggests that Permira will be looking for opportunities to work closely with founders and CEOs, rather than imposing outside management.
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Source: techcrunch.com
