Willkie Helps PAI Partners Close Europe-Focused Mid-Market Fund

Willkie Farr & Gallagher said it advised French private equity firm PAI Partners on the closing of its first fund wholly dedicated to investing in mid-market companies across Europe.

PAI said its Mid-Market Fund, raised “entirely virtually,” took in around 920 million euros ($1.1 billion) in commitments in eight months of active marketing. That beat the fund’s 700 million euro target. It raised its original 800 million euro hard cap because of interest from new and existing investors.

The 50 investors in the fund included a range of institutional investors, in particular public and private pension funds, sovereign wealth funds, ...