Former Permira chairman Damon Buffini will step down from the buyout firm at the end of the year, bringing his 27-year career at one of Europe’s biggest private equity houses to a close.

Buffini, who led Permira as managing partner between 2000 and 2007 before serving as chairman from 2007 to June 2010, will leave the firm's partnership by the end of the year, according to a spokeswoman for Permira.