PAI Partners close debut mid-market fund at €920m

PAI Partners (“PAI”), a leading pan-European private equity firm, has announced the successful final close of its inaugural PAI Mid-Market Fund (“PAI MMF”, or the “Fund”) with a total of circa €920 million of commitments. The Fund was raised entirely virtually and is above its €700m target and original €800 million hard cap, which was increased following significant investor interest.

The Fund received strong support from PAI’s existing investor base in addition to new investors. The capital commitments were received from a total of 50 investors including a broad range of institutional investors, notably leading public and private pension funds, sovereign wealth funds, insurance companies and family offices across the globe.

The MMF draws from PAI’s core investment DNA and capabilities, leveraging the firm’s European expertise, its local market presence most notably in France, Spain, Italy and Germany, and its specialised, in-depth sector knowledge to create an extension of the firm’s platform to access the mid-market. It is being invested alongside PAI’s larger-cap fund, PAI Europe VII, which closed at €5.1 billion in 2018.

PAI MMF will focus on rapidly scalable companies in the European mid-market and will support high-quality management teams to develop and grow their businesses, capitalising on PAI’s international consolidation expertise. The Fund has already demonstrated a strong pipeline, having made three separate investments in Amplitude Surgical, Angulas Aguinaga and MyFlower.

We are delighted to have supported PAI on this fundraise, and are proud of our long-term partnership having also worked together on the fundraise of PAI Europe VI and VII.