PAI, ICG Ink Infra Group Stake Sale at €3 Billion Valuation (1)

European buyout firm PAI Partners sold a part of its stake in Infra Group to a group of investors including current shareholder ICG Plc, in a transaction valuing the infrastructure services provider at about €3 billion ($3.5 billion), according to people familiar with the matter.

The deal allows PAI to return some cash to its fund investors while keeping a controlling stake in Infra Group, the people said, asking not to be identified because the information is private. PAI first invested in Infra Group in 2023.

ICG’s Europe VIII fund, which first invested in Infra Group in 2021, will ...