This article has multiple issues. Please help improve it or discuss these issues on the talk page . (Learn how and when to remove these template messages)
|
Company type | Private |
---|---|
Industry | Private equity |
Founded | 1998 |
Headquarters | Paris, France |
Key people |
|
Products | Private equity funds |
Total assets | €25.4 billion [1] |
Number of employees | 138 |
Website | www |
PAI Partners is a French private equity firm based in Paris. It is one of the oldest firms in the sector, with its origins dating back to Paribas Affaires Industrielles, historically the principal investment arm of Paribas, which started operations in 1872.
PAI manages €25.4 billion of dedicated buyout funds. Since 1994, PAI has completed 65 LBO transactions in 11 European countries, representing over €48 billion in transaction value. PAI has 62 agents from 10 countries and teams in Paris, London, Luxembourg, Madrid, Milan, Munich, Stockholm and New York City.
PAI was formerly known as Paribas Affaires Industrielles, [2] [3] and was historically the principal investment arm of Paribas. PAI LBO Fund, established in 1998, was the first PAI investment vehicle managing third party capital. Prior to 1998, PAI invested exclusively on the balance sheet of BNP Paribas.
Paribas merged with Banque Nationale de Paris in 2000. [4] In 1993, Amaury de Sèze joined Paribas Affaires Industrielles as chairman and chief executive officer. Under his leadership, PAI developed a strategy in private equity that capitalized on the team's familiarity with industrial sectors.
Paribas Affaires Industrielles led the €610 million buyout of Danone’s pasta and condiment unit in 1997, [5] [6] at that time the largest leveraged buyout ever completed in France.[ citation needed ] The following year, the firm finalized fundraising for its first third party investment fund, raising €650 million of investor commitments. PAI completed a full spinout from BNP in 2000 and the following year raised a new €1.8 billion private equity fund.
History of private equity and venture capital |
---|
Early history |
(origins of modern private equity) |
The 1980s |
(leveraged buyout boom) |
The 1990s |
(leveraged buyout and the venture capital bubble) |
The 2000s |
(dot-com bubble to the credit crunch) |
The 2010s |
(expansion) |
The 2020s |
(COVID-19 recession) |
In September 2009, Lionel Zinsou became CEO and Chairman of the firm. [7] [8] In 2015, Michel Paris became CEO after Lionel Zinsou stepped down to become prime minister in Benin. [9] [10]
In March 2015, PAI raised its fifth LBO fund, PAI Europe VI, reaching €3.3 billion, above the initial target of €3 billion. [11] In September 2017, PAI announced the raising of a seventh investment vehicle: PAI Europe VII. [12] In March 2018, PAI closed their PAI Europe VII fund. [13] [14]
Prior to 1998, PAI made investments via the Paribas Portfolio. The Paribas Portfolio was funded directly from Paribas’ balance sheet, largely unleveraged and comprising 51 investments, all of which have now been realised. Reflecting the broader investment remit of PAI at the time, it included control and non-control investments. Since 1998, PAI has raised five private equity funds, as detailed below: [15]
Fund name | Vintage | Total commitment | Focus | Status |
---|---|---|---|---|
PAI LBO Fund | 1998 | €650 million | Buyout | Liquidated |
PAI Europe III | 2001 | €1.8 billion | Buyout | Liquidated |
PAI Europe IV | 2005 | €2.7 billion | Buyout | Liquidated |
PAI Europe V [16] | 2008 | €2.7 billion | Buyout | Exit phase |
PAI Europe VI [17] | 2015 | €3.3 billion | Buyout | Exit phase |
PAI Mid-Market [18] | 2020 | €918 million | Buyout | Investment phase |
PAI Europe VII [19] | 2018 | €5.1 billion | Buyout | Investment phase |
PAI Partners VIII [20] | 2023 | €7.1 billion | Buyout | Investment phase |
Historically, PAI managed Paribas's stakes in large food and consumer goods companies across Europe: Royal Canin (European leader in dry pet food), Diana Ingredients (natural food ingredients), Evialis (animal feed), Saupiquet (ready meals), LDC (premium poultry), Navidul (cured ham – Spain), SOS Arana (rice – Spain) and helped them consolidate their respective sector. In 2021 PAI completed its largest ever investment with the $3.3 billion acquisition of Tropicana, Naked and other North American juice brands from PepsiCo. [21] Previous transactions in consumer goods and services, healthcare as well as general industrial companies are highlighted below: [15]
Entry | Exit | Company Name | Business description | Country | Ref. |
2023 | Unrealised | Alphia | Pet food manudfacturer | United States | [22] |
2023 | Unrealised | Azets | Accounting, tax, pauroll, audit and advirosy services to SMEs | United Kingdom | [23] |
2023 | Unrealised | ECF | Hospitality and care equipment distributor | France | [24] |
2021 | Unrealised | European Camping Group | Outdoor accommodation | France | [25] |
2023 | Unrealised | Infra Group | Network infrastructure service provider | Belgium | [26] |
2023 | Unrealised | The Looping Group | Leisure parks | France | [27] |
2023 | Unrealised | NovaTaste | Taste innovation and ingredients | Austria | [28] |
Entry | Exit | Company Name | Business description | Country | Ref. |
2021 | Unrealised | Apave | Risk management | France | [29] |
2021 | Unrealised | Apleona | Facility management services | Germany | [30] |
2019 | Unrealised | Areas | Food and beverage travel retail | Spain | [31] |
2020 | Unrealised | Armacell | Insulation and engineered foam products | Luxembourg | [32] |
2018 | 2022 | Asmodee | Board, card and role playing game publisher and distributor | France | [33] |
2019 | Unrealised | Ecotone | Healthy and sustainable food | France | [34] |
2021 | Unrealised | Euro Ethnic Foods | Grocery products | France | [35] |
2021 | Unrealised | Euro Camping Group | Outdoor acommodation | France | [25] |
2022 | Unrealised | HKA | Risk mitigation consultancy | United Kingdom | [36] |
2021 | Unrealised | Pasubio | Premium leather for the automotive industry | Italy | [37] |
2021 | Unrealised | SGD Pharma | Primary glass packaging for the pharmaceutical industry | France | [38] |
2019 | Unrealised | Stella Group | Sun protection | France | [39] |
2021 | Unrealised | The Compleat Food Group | Chilled food platform | United Kingdom | [40] |
2022 | Unrealised | Theramex | Womens health parmaceuticals | United Kingdom | [41] |
2022 | Unrealised | Tropicana Brands Group | Global juices brand | United States | [42] |
2022 | Unrealised | Veonet | Ophthamology clinics platform | Germany | [43] |
2019 | Unrealised | Zahneins | Dental company | Germany | [44] |
Entry | Exit | Company Name | Business description | Country | Ref. |
2020 | Unrealised | Amplitude Surgical | Global surgical technology for lower limg orthopaedics | France | [45] |
2020 | Unrealised | Angulas Aguinaga | Refrigerated fish and seafood ready meals | Spain | [46] |
2023 | Unrealised | European Pizza Group | Frozen pizza | Germany | [47] |
2023 | Unrealised | La Compagnie des Desserts | Frozen desserts supplier | France | [48] |
2021 | Unrealised | Interflora | European flower and gife digital platform | France | [49] |
2021 | Unrealised | Scrigno | Integrated opening solutions | Italy | [50] |
2022 | Unrealised | Uvesco | Spanish retail food sector | Spain | [51] |
Entry | Exit | Company Name | Business description | Country | Ref. |
2018 | Unrealised | Albéa | Global packaging company | France | [52] |
2016 | 2022 | Atos Medical [53] | Laryngectomy products | Sweden | [54] |
2016 | 2019 | B&B Hotels [55] | Budget hotel chain | France | [56] |
2014 | 2017 | DomusVi [57] | Elderly care | France | [58] |
2017 | Unrealised | ELITech [59] | Diagnostic equipment | Italy | [60] |
2016 | Unrealised | Ethypharm [61] | Specialty pharmaceuticals | France | [62] |
2014 | Unrealised | EuroMediaGroup | Technical services to the audiovisual industry | France | [63] |
2014 | 2018 | InnoVista Sensors (formerly CST) | Sensors and control products | United States | [64] [65] |
2015 | 2019 | Grupo Konecta | Business process outsourcing and contact centres | Spain | [66] |
2014 | Unrealised | Labeyrie Fine Foods | Gourmet food | France | [67] |
2018 | Unrealised | M Group Services | UK & Ireland infrastructure services | United Kingdom | [68] |
2018 | 2022 | Refresco | Bottler of beverages | The Netherlands | [69] |
2016 | 2020 | Roompot | Holiday parks | The Netherlands | [70] |
2017 | Unrealised | Tendam [71] | Apparel retailer | Spain | [72] |
2014 | Unrealised | VPS | Vacant property services | United Kingdom | [73] |
2015 | Unrealised | Yonderland | Outdoor equipment and fashion retailer | Belgium | [74] |
2018 | Unrealised | World Freight Company | Air cargo sales and services | France |
Entry | Exit | Company Name | Business description | Country | Ref. |
2013 | 2017 | ADB Safegate | Airfield ground lighting | Belgium | [75] |
2008 | 2015 | Atos | IT service provider | France | [76] |
2010 | 2017 | Cerba European Lab | Specialised biology laboratory | France | [77] |
2013 | Unrealised | Froneri (formerly R&R Ice Cream) | Take-home ice cream manufacturer | United Kingdom | [78] |
2011 | 2016 | Hunkemöller | Lingerie retailer | The Netherlands | [79] |
2013 | 2017 | Group IPH | Industrial supplies distributor | France | [80] |
2011 | 2017 | Kiloutou | Equipment rental services | France | [81] |
2012 | 2019 | Marcolin | Eyewear design and manufacturing | Italy | [82] [83] |
2011 | 2016 | Swissport | Global ground and cargo aircraft handling services | Switzerland | [84] |
2011 | 2014 | The Nuance Group | Travel retail and duty-free industry | Switzerland | [85] |
2008 | 2017 | Xella | Aircrete blocks | Germany | [86] |
Entry | Exit | Company Name | Business description | Country | Ref. |
2005 | 2012 | Chr. Hansen | Natural food ingredients | Denmark | [87] |
2005 | 2017 | Cortefiel | Apparel retailer | Spain | [72] |
2005 | 2016 | Global Closure Systems (aka GCS) | Plastic closures | France | [88] |
2007 | 2017 | Kaufman & Broad | Developer and builder of homes | France | [89] |
2005 | 2011 | Kwik-Fit | Automotive fast-fit | United Kingdom | [90] |
2007 | 2009 | Monier | Roofing products | France | [91] |
2005 | 2023 | Perstorp | Specialty chemical ingredients used for coatings | Sweden | [92] [93] |
2006 | 2011 | Spie | Multitechnical services | France | [94] |
2006 | 2014 | United Biscuits | Biscuits and snacks | United Kingdom | [95] |
{{cite web}}
: External link in |title=
(help){{cite web}}
: CS1 maint: numeric names: authors list (link){{cite web}}
: CS1 maint: numeric names: authors list (link){{cite web}}
: CS1 maint: numeric names: authors list (link){{cite web}}
: CS1 maint: numeric names: authors list (link)The Carlyle Group is a multinational private equity, alternative asset management and financial services corporation based in the United States with $376 billion of assets under management. It specializes in private equity, real assets, and private credit. It is one of the largest mega-funds in the world. In 2015, Carlyle was the world's largest private equity firm by capital raised over the previous five years, according to the PEI 300 index. In the 2023 ranking however, it had slipped to fifth place.
Blackstone Inc. is an American alternative investment management company based in New York City. Blackstone's private equity business has been one of the largest investors in leveraged buyouts in the last three decades, while its real estate business has actively acquired commercial real estate. Blackstone is also active in credit, infrastructure, hedge funds, insurance, secondaries, and growth equity. As of June 2023, the company's total assets under management were approximately US$1 trillion, making it the largest alternative investment firm globally.
Apax Partners LLP is a British private equity firm, headquartered in London, England. The company also operates out of six other offices in New York, Hong Kong, Mumbai, Tel Aviv, Munich and Shanghai. As of December 2023, the firm had raised and advised funds of approximately $65 billion (USD). Apax Partners is one of the oldest and largest private equity firms operating on an international basis.
Bridgepoint Group plc is a British private investment company listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.
Cinven Limited is a global private equity firm founded in 1977, with offices in nine international locations in Guernsey, London, New York, Paris, Frankfurt, Milan, Luxembourg, Madrid, and Hong Kong that acquires Europe and United States based corporations, and emerging market firms that fit with their core businesses, and necessitate a minimum equity investment of €100 million or more. As of 2023, it has €39 billion in assets under management.
Clayton, Dubilier & Rice (CD&R) is an American private equity company. It is one of the oldest private equity investment firms in the world. Founded in 1978, CD&R has managed the investment of more than $30 billion in approximately 90 businesses, representing a broad range of industries with an aggregate transaction value in excess of $140 billion. Approximately half of CD&R's investments have involved corporate divestitures.
CVC Capital Partners is a Luxembourg-based private equity and investment advisory firm with approximately US$155 billion of assets under management and approximately €157 billion in secured commitments since inception across American, European and Asian private equity, secondaries and credit funds. As of 31 December 2021, the funds managed or advised by CVC are invested in more than 100 companies worldwide, employing over 450,000 people in numerous countries. CVC was founded in 1981 and, as of 31 March 2022, has over 650 employees working across its network of 25 offices throughout EMEA, Asia and the Americas.
Sun Capital Partners, Inc., is an American private equity firm specializing in leveraged buyouts. Sun Capital was founded in 1995 by Marc J. Leder and Rodger Krouse, former classmates at the Wharton School of the University of Pennsylvania and investment bankers at Lehman Brothers.
AlpInvest Partners is a global private equity asset manager with over $85 billion of committed capital since inception as of December 31, 2022. The firm invests on behalf of more than 450 institutional investors from North America, Asia, Europe, South America and Africa.
BC Partners is a British international investment firm with over $40 billion of assets under management across private equity, credit and real estate in Europe and North America. Its global headquarters are in London. The firm invests across all industries. BC Partners was founded in 1986 and has offices in New York, Paris and Hamburg. Since inception, BC Partners has completed 113 private equity investments in companies with a total enterprise value of €145 billion.
Charterhouse Capital Partners is a London based private equity investment firm focused on investing in European mid-market companies valued between €200m and €1.5bn. The company targets investments across the services, healthcare, specialised industrials and consumer sectors.
Actis is a global investment firm focused on the private equity, energy, infrastructure, and real estate asset classes.
Francisco Partners, legally Francisco Partners Management, L.P., is an American private equity firm focused exclusively on investments in technology and technology-enabled services businesses. It was founded in August 1999 and based in San Francisco with offices in London and New York City.
Partners Group Holding AG is a Swiss-based global private equity firm with US$141.7 billion in assets under management in private equity, private infrastructure, private real estate and private debt.
One Equity Partners is a private equity firm with over $10 billion in assets under management which primarily deals with the industrial, healthcare and technology sectors in North America and Europe. One Equity Partners was the merchant banking arm of JPMorgan Chase, focused on leveraged buyout and growth capital investments in middle-market companies. Formed by Bank One in 2001, the group has offices in New York City, Chicago, Sao Paulo, Vienna, Hong Kong and Frankfurt.
Castle Harlan is a private equity firm based in New York City. The company focuses on buyouts and growth capital investments in middle-market companies across a range of industries. Founded in 1987, Castle Harlan invests in controlling interests in middle-market companies in North America and Europe, Australia and Southeast Asia through Castle Harlan Australian Mezzanine Partners.
Rhône Group is a global private equity firm with approximately $11 billion of assets under management, specializing in mergers and acquisitions, leveraged buyouts, recapitalizations, and partnerships with particular focus on European and trans-Atlantic investments. Rhône also offers financial advisory services, strategic alliances, joint partnerships, and business valuation services. Rhone Group was listed in 2013 to 2014 by Preqin as the 'Most Consistent Performing Private Equity Fund Manager' based on both its multiple and IRR of all 3 funds in the top quartile ranking.
Sycamore Partners is a private equity firm based in New York specializing in retail and consumer investments. The firm has approximately $10 billion in aggregate committed capital.
MBK Partners (MBKP) is a private equity firm focused on North Asia. According to Forbes, MBK Partners is one of the largest private equity firms in Asia, managing $25 billion worth of assets.
BPEA EQT is an Asian investment firm headquartered in Hong Kong. Previously it was an affiliate of Barings Bank before becoming an independent firm. In 2022, it was acquired by EQT Partners to act as its Asian investment platform. BPEA EQT is one of the largest private equity firms in Asia.