PARAGON PARTNERS closes new fund with EUR 783 million.
Munich — PARAGON PARTNERS, one of the leading investment companies in the German-speaking region, recently closed its PARAGON FUND III (“P3”) with capital commitments of EUR 783 million. Due to strong demand, P3 significantly exceeded both the original target size and the size of the predecessor fund, which closed at EUR 412 million.
The new fund was oversubscribed and generated strong demand mainly from existing investors, but also from some new ones. This helps PARAGON PARTNERS to broaden its investor base and further develop its relationships in Europe and North America. European investors, and especially investors from German-speaking countries, continue to be well represented. The investor base includes renowned institutional investors such as funds of funds, public and company pension funds, insurance companies, foundations and family holding companies.
With the new fund, PARAGON PARTNERS can further expand its position as one of the leading investment companies in the German-speaking region with a focus on sustainable value-oriented investments in the range of EUR 30 million to EUR 250 million.
PARAGON PARTNERS is also pleased to announce the first investment of the new fund: pro optik, the third largest optician chain in Germany. The chain currently comprises a network of 145 stores based on a successful partnership model, offering its partners the opportunity to act as either joint venture or franchise partners. pro optik sells around 400,000 pairs of glasses a year and the product range extends from high-quality frames from both well-known top brands and less expensive own brands to high-quality lenses and glasses. The company has also recently expanded its offering to include hearing aids. In 2018, pro optik generated sales of EUR 125 million.
PARAGON PARTNERS continues its proven investment strategy of investing in established medium-sized companies with operational growth and value enhancement potential in Germany, Austria and Switzerland, as well as selectively in neighboring countries. The investment company is committed to a sustainable investment approach and integrates environmental, social and honest corporate governance considerations into its investment decisions and also transfers these sustainability standards into the corporate governance of its portfolio companies.
The Munich-based fund is advised by a motivated team of investment managers with many years of investment and extensive operational experience, characterized by strong cohesion and stability for more than 15 years.
About PARAGON PARTNERS
PARAGON PARTNERS is a private equity company founded in 2004 with more than EUR 1.2 billion in equity under management. PARAGON PARTNERS works with its portfolio companies to achieve sustainable growth, operational excellence and market leadership. PARAGON PARTNERS unlocks new value in fundamentally attractive businesses and has the ability to address complexity from both a transactional and operational perspective and to reposition businesses through customized value creation programs.