Investindustrial, the former private equity owner of luxury car maker Aston Martin, is seeking to raise €3bn ($3.39bn) for its seventh flagship buyout fund, according to a person familiar with the matter.

Investindustrial joins a host of Europe’s best-known buyout houses looking to tap strong investor appetite for the asset class and raise their largest-ever funds. If the new fund hits its target, it would comfortably surpass its €2bn predecessor, which was closed in 2016.