Paragon Partners raises €783m

The Munich, Germany-based investment firm closes third fund above target.

Paragon Partners has held a final close of Paragon Partners III (P3) at €783 million, surpassing its target. Through its third flagship fund, the firm will continue to make value-add control buyout investments in German-speaking Europe, in companies valued between €30 million and €250 million.

PKA AIP Funds is known to have committed capital to the fund. The rest of the investor base consists of new and existing relationships with funds of funds, pension funds, insurance companies, endowments, and family offices.

P3 significantly exceeded the size of its predecessor, which closed at €412 million in May 2014.