PAI Partners raises €7.1 billion for eighth flagship fund

PAI Partners has announced the successful final close of its latest Flagship Fund, PAI Partners VIII. Fund VIII surpassed its fundraising target, securing €7.1 billion in total capital commitments, highlighting the strong investor confidence in PAI’s investment strategy of transforming businesses into high performing strategic global assets in Europe and North America within the Real Economy.

Despite the challenging fundraising environment, the Fund is c. 40% larger in size compared to its predecessor (PAI Europe VII), which closed at €5.1 billion in 2018.

The Fund received strong support from leading public and private pension funds, sovereign wealth funds, financial institutions and family offices, with growth in commitments from every region. With a re-up rate of c. 90% and over €2 billion of capital sourced from new investors, PAI’s approach has continued to resonate with existing investors and the wider market.

Fund VIII has already deployed c. 35% of its total capital with seven investments to date, including ECG / Vacanceselect, NovaTaste, the Looping Group, ECF Group, Azets Group, Infra Group and Alphia, Inc.

PAI remains steadfast in its commitment to executing its investment strategy, leveraging its industry networks and deep sector expertise to build sustainable European and global leaders. PAI invests behind thematics within traditional industry sectors that are at the heart of economic activity and that are underpinned by solid fundamentals and sustainable growth horizons.

Rede is proud to have partnered once again with PAI on this successful fundraise, which is reported to be the third largest European private equity fundraise to date in 2023. Our longstanding relationship with PAI has included advising on PAI Funds VI and VII, as well as PAI’s inaugural Mid-Market Fund which closed in 2021.