PAI Partners, one of the oldest private equity firms in Europe, is targeting family-owned companies for its new €5.4 billion fund. The fund, PAI Europe V, closed yesterday and is the largest private equity fund ever raised in continental Europe.
"We think there are thousands of important family-owned companies in France, Spain, Italy and Germany, which will need to change hands for all sorts of reasons in the coming years," said Dominique Mégret, chairman and CEO of PAI, without mentioning any companies by name.