PAI Partners has closed its fifth and biggest fund on â¬5.4bn ($8.5bn), making it the largest raised by a private equity firm based in continental Europe. However, the French buyout firm missed its upper limit for the fund despite extending the final deadline for investors by several months.
The new fund raised by Paris-headquartered PAI was double the size of its previous fund, which closed on â¬2.7bn in April 2005.
