The value of Permira’s boom-era buyout fund rose by almost a fifth in the first quarter in strong figures which come amid a multi-billion euro fundraising effort by the UK firm.

Permira IV, which raised €11bn in 2006, was written up by 19% in the first quarter compared with the final three months of last year, investors were told this week. The increase means the fund is now valued at 1.26 times cost compared with 1.1 times cost at the end of December.