PAI Partners
Private equityParis · Growth–Late Stage · 13 people tracked
Also known as PAI SAS
Investment thesis
PAI Partners forges strategic partnerships with global companies, founders and families, focusing on four core sectors: Food & Consumer, Business Services, Industrial Goods & Services, and Healthcare. In Food & Consumer, it pursues organic and consolidation-driven growth and revitalises underinvested brands. In Business Services, it backs leading platforms benefiting from structural tailwinds such as regulatory complexity and digital transformation. In Industrials, it acquires sub-sector leaders (building materials, packaging, transportation, industrial services) and applies a transformation playbook emphasising innovation, digitisation and operational excellence. In Healthcare, it drives value through capacity expansion, consolidation and service improvement across services, pharma and medtech.
Source: firm website, verified Aug 25, 2026.
Team · 13 people
from the firm's website & curated
What they invest in
from 11 of 12 portfolio companiesHealthtech ×4Consumer ×3AgTech ×2Cleantech ×2Digital Health ×2FoodTech ×2B2B Marketplaces ×1Biotech ×1
HQs:Spain×2France×2Germany×1Italy×1South Africa×1
Investments · 12 tracked
founders shown can be your intro pathElucid improves healthcare access and outcomes for farming communities in sub-Saharan Africa and Latin America, integrating health programs with agricultural development initiatives.
AgTechDigital HealthHealthtechImpact & Social Good
Samuel Knauss(Managing Director (Product) & Co-Founder)Julius(Managing Director (Operations) & Co-Founder)
Co-investorsIBB VenturesElea Foundation for Ethics in GlobalizationFINCA Ventures
Nuzoa is a veterinary supplies distributor and business software provider serving pet clinics and livestock farms in the Iberian market.
HealthtechMarketplacesSaaS
Co-investorsAbac Capital Manager S.G.E.I.C.,
Alvest is a group organized around a Supervisory Board, an Alvest Management Committee, and a Steering Committee that oversee its global operations and governance.
CleantechSector Agnostic
Valentin Schmitt(President and CEO)
PAI Partners is a leading private equity firm that invests in and transforms traditional companies across food & consumer, business services, industrial goods & services, and healthcare sectors, with €25 billion in assets under management globally.
Enterprise Software
Co-investorsBCIDancap Family Investment Office
Froneri is a premium ice cream manufacturer and distributor operating as the leading pure-play ice cream business globally, holding number 1 or 2 market positions across most markets where it operates.
ConsumerFoodTech
Phil Griffin(CEO)
BoardIvar Jan Blanken(Director)Alistair James Bolton(Director)Matthew Clive Poole(Director)
Co-investorsBCI
Innovad Group develops animal health and nutrition products, operating as a primary producer through four manufacturing centers and 18 legal entities worldwide.
AgTechBiotechHealthtech
Uvesco is a Spanish supermarket retail group that operates the BM Supermercados chain of grocery stores.
ConsumerFoodTechRetail Tech
Fund performance · per public LP disclosures · 6
as of Sep 2025| Fund | Vintage | Committed | Net IRR | TVPI | DPI |
|---|---|---|---|---|---|
| PAI Europe VIII, L.P.LPs: Washington State Investment Board | 2023 | — | 18.1% | 1.20x | — |
| PAI Partners VIII-1 SCSpLPs: Orange County Employees Retirement System | 2022 | — | 17.8% | 1.20x | — |
| PAI Europe VIILPs: Washington State Investment Board, Pennsylvania Public School Employees' Retirement System | 2019 | — | 13.4% | 1.60x | 0.38x |
| PAI Europe VI, L.P.LPs: Pennsylvania Public School Employees' Retirement System | 2014 | — | 13.3% | 1.63x | 1.33x |
| PAI Europe VI, L.P. Private EquityLPs: Pennsylvania Public School Employees' Retirement System | 2014 | — | — | 1.60x | 1.58x |
| PAI Europe V LPLPs: Florida State Board of Administration | 2008 | — | 7.0% | 1.30x | 1.30x |
Source: public limited-partner disclosures (CalPERS, CalSTRS). Net IRR / TVPI / DPI as reported by the limited partner; a fund's early-year IRR is an interim estimate (J-curve).
Frequently asked questions
- How many investments has PAI Partners made?
- PAI Partners has 11 tracked investments, including 1 dated in the last 24 months.
- What stage does PAI Partners invest at?
- PAI Partners invests at the Growth, Late Stage stages.
- What is PAI Partners's typical check size?
- PAI Partners typically writes checks of $108M – $324M.
- What sectors does PAI Partners focus on?
- PAI Partners focuses on Advanced Manufacturing, Biotech, Consumer, Data & Infrastructure, Enterprise Software, FoodTech, Healthtech, Logistics & Supply Chain, Medical Devices, New Materials, Retail Tech.
- Where is PAI Partners located?
- PAI Partners is headquartered in Paris, FR.
- Who does PAI Partners co-invest with?
- PAI Partners most often shares deals with BCI, Abac Capital Manager S.G.E.I.C.,, Dancap Family Investment Office, among 3 tracked co-investors.
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