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AltAssets is the private equity news and research service from Almeida Capital
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PRINT THIS PAGE PAI partners closes fifth fund on 5.4bn06/05/2008. Source: AltAssets. 
Paris-based private equity firm PAI partners has closed its PAI Europe V fund on 5.4bn. It is the largest private equity fund raised to date in Continental Europe. The fund received commitments from around 130 investors from 23 different countries, with 63 per cent coming from Europe, 26 per cent from North America and 11 per cent from Asia and the Middle East. PAI's existing investors contributed over 70 per cent of the capital to the fund, according to the firm.
With its new fund, PAI will continue to invest in European businesses and target transactions ranging from 500m to several billion euros in enterprise value. PAI focuses on investments in the services, capital goods and consumer goods sectors.
Dominique Mιgret, chairman and CEO of PAI, said, 'We are extremely pleased with the strong support we have received from our existing investors and the significant number of new investors who placed their confidence in PAI. We will continue to leverage our sector expertise to invest in companies that are clear leaders in their markets with a view to creating strategic value and delivering strong returns to our investors.'
PAI manages and advises buy-out funds totalling over 11bn. The firm closed its previous fund, PAI Europe IV in April 2005 on 2.7bn.
Its offices are located in Paris, London, Madrid, Milan, Munich and Luxembourg.
Copyright © 2008 AltAssets
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