Paragon Partners Said to Raise 400 Million Euros for FundSabrina Willmer and Kiel Porter
Paragon Partners GmbH plans to finish raising money for a buyout fund focused on German-speaking Europe at about 400 million euros ($550 million), almost twice the size of its first effort, two people with knowledge of the situation said.
The firm’s second fund, which is oversubscribed, is set to conclude fundraising in the next four to six weeks, said the people, who asked not to be identified because the matter is private. Paragon raised 220 million euros for its prior fund in 2008, they said.
A spokesman for Munich-based Paragon didn’t respond to telephone and e-mail requests seeking comment. A spokesman for London-based Rede Partners LLP, which is helping raise the fund, declined to comment.
Paragon Partners typically invests in companies based in Germany, Austria and Switzerland, according to its website. Investments include Polo, a motorcycle clothing retailer; AWG Fittings GmbH, which provides firefighting equipment and accessories; and Europart, a trading company for spare parts for commercial vehicles.
Krischan von Moeller and Edin Hadzic founded Paragon Partners in 2004. Hadzic was previously a partner at private-equity firm Triton Advisers Ltd. Von Moeller was formerly in charge of restructuring investments at family-owned money-management firm BZV Partners.