Aberdeen vs Permira

UK Pension Funds Invest in Quantum and DeepTech Startups

Scottish Widows, Aberdeen Investments, and IP Group have announced their first investments from the CG Scottish Widows Growth LTAF, a UK pension fund allocating member capital to high-growth science and technology companies. The initial investments include Oxford Quantum Circuits, Quantum Motion, Nyobolt, and Genomics Limited. Aberdeen Investments manages the growth sub-fund and appointed IP Group to manage the UK venture growth portfolio, aiming to provide pension savers access to private markets and address the funding gap for UK innovation. This marks one of the first UK pension schemes to actively connect pension savings with venture growth.

• Scottish Widows, Aberdeen Investments, and IP Group announced first investments through the CG Scottish Widows Growth LTAF.
• The fund invested in Oxford Quantum Circuits, Quantum Motion, Nyobolt, and Genomics Limited.
• Aberdeen Investments manages the growth sub-fund for Scottish Widows.

Squarespace lays off 19% of workforce in restructuring

Squarespace, the web hosting and website building company, is laying off approximately 19% of its global workforce, affecting around 300 employees. The layoffs were confirmed by a public relations specialist and first reported by The Verge. The restructuring aims to simplify operations, sharpen priorities, and enable the company to move faster, positioning it for its next phase of growth. The move comes amid significant changes in the website building industry due to the rise of generative AI and 'vibe-coding' tools that allow users to create websites with simple prompts. Competitors like Wix have acquired AI-powered builders, and Google has launched similar features. Squarespace has also been pushing into AI with tools like Blueprint and the upcoming Forma platform. The company went public in 2021 and went private again in 2024 in a $7 billion deal.

• Squarespace is laying off approximately 19% of its global workforce, affecting around 300 employees.
• The layoffs were confirmed by a PR specialist and reported by TechCrunch, with The Verge initially reporting the news.
• The restructuring is intended to simplify operations, sharpen priorities, and enable faster movement.

Brian Ruder joined Dani Burger on Bloomberg Deals to talk about where we are in the cycle

Permira Co-CEO Brian Ruder appeared on Bloomberg Deals to discuss the current market cycle and implications for private equity investors. Also new: AI & Customer Experience | Kleinanzeigen.

Golden Goose Reports Double-Digit Growth, Expands DTC

Italian luxury fashion brand Golden Goose reported a 15% currency-adjusted revenue increase to €380.4 million in H1 2026, with Q2 growth accelerating to 19%. Direct-to-consumer (DTC) sales surged 22% to €309.6 million, representing 81% of total revenue, up from 77% a year earlier. All regions saw double-digit growth, with the Americas up 18%, EMEA 14%, and APAC 17%. Adjusted EBITDA rose 9% to €122.9 million, with a 32.3% margin. The company opened new stores, including locations in Athens and Rome, and launched its first Younique Caffè in Europe. During Q2, ownership changed with HSG becoming majority shareholder, Temasek investing as a minority, and Permira remaining a strategic shareholder, aiming to support international expansion and innovation.

• H1 2026 revenue increased 15% to €380.4 million
• DTC revenue up 22% to €309.6 million (81% of total revenue)
• Adjusted EBITDA rose 9% to €122.9 million in H1 2026