PAI III looks set to close above target

Following shortly after the news that PAI Management is looking to buy itself out of BNP Paribas, has come the announcement that PAI III is expected to hold a final close on up to EUR 1.8bn. The original target of the fund was set at EUR 700m last year, with a cap of EUR 1.25bn. However, the fund is known to have already raised EUR 1.6bn, and should hold a final close in the coming weeks. Investments have so far come from a range of institutions, with BNP Paribas sponsoring the vehicle to the tune of EUR Meanwhile, the Canada Pension Plan Investment Board (CPP) has announced a commitment to the vehicle of EUR 100m. The investment remit of the fund is likely to be similar to that of its predecessors, with investments being made in the distribution, food and beverages, media and healthcare sectors in the main. It is expected to invest Europe-wide, especially in France, Italy, Spain and the Benelux.

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