PAI Partners
Private equityParis · Growth–Late Stage · 8 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 11, 2026.
Team · 8 people
from the firm's website
What they invest in
from 9 of 11 portfolio companiesHealthtech ×3Cleantech ×2Consumer ×2AgTech ×1B2B Marketplaces ×1Biotech ×1Climate Tech ×1Digital Health ×1
HQs:France×2Germany×1Spain×1Italy×1South Africa×1
Investments · 11 tracked
founders shown can be your intro pathAlvest 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
Froneri is an ice cream manufacturer and brand portfolio company.
Consumer
BoardIvar Jan Blanken(Director)Alistair James Bolton(Director)Matthew Clive Poole(Director)
Innovad Group develops animal health and nutrition products, operating as a primary producer through four manufacturing centers and 18 legal entities worldwide.
AgTechBiotechHealthtech
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
- 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.
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