PAI Partners wraps up third fund with FTE disposal

The latest in a string of exits by the French firm comes as it raises its first fund since a 2009 management coup

Parisian buyout house PAI Partners has wrapped up its third fund at three-times net cost after its most recent exit, making it one of Europe’s best-performing funds for its vintage.

PAI has agreed to sell FTE automotive, which makes hydraulic clutch actuation systems for passenger cars and commercial vehicles, to Boston-based private equity firm Bain Capital for an undisclosed sum, according to a statement from the French firm.

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Europe Draws Up Retaliatory Tariffs for U.S. Goods in Case No Trade Deal Is ReachedExternal link

Europe Draws Up Retaliatory Tariffs for U.S. Goods in Case No Trade Deal Is Reached