Valuations across all of private equity firm Permira’s funds were up 31% in 2010, compared with 2009, as a result of surging earnings of portfolio companies, particularly in its latest fund, the firm said.

The firm has rebounded two years on from offering its investors the chance to cap commitments to its fourth fund in exchange for accepting a reduction in future profits. One of its largest investors, listed fund of funds SVG Capital, said yesterday that it had benefited from a 41.7% increase in net asset value per share as a result of the turnaround in Permira's fortunes.