PAI Partners' flagship fund selects BNP Paribas as depositary bank
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PAI Partners' flagship fund selects BNP Paribas as depositary bank 25 September 2024 France Reporter: Klea Neza
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BNP Paribas’ Securities Services business has been mandated by PAI Partners, a pre-eminent private equity firm investing in companies in Europe and North America.
The mandate will provide depositary bank services for PAI Partners’ eighth flagship fund, PAI Partners VIII, representing €7.1 billion.
With this move, PAI Partners says it will benefit from international leverage, local expertise and integrated offering of BNP Paribas helping them to get a consolidated and accurate view of their activities in the market.
BNP Paribas Group has now facilitated a migration of PAI Partners VIII’s assets onto the bank’s depositary bank platform.
Robert van Kerkhoff, head of Luxembourg, Securities Services at BNP Paribas, comments: “We are delighted to extend our partnership with PAI Partners with the migration of their latest Luxemburg flagship fund, PAI Partners VIII, onto our depositary bank platform.
“We are committed to putting the unique strengths of our on-the-ground teams’ expertise and integrated set of innovative solutions at the service of PAI Partners’ growth strategy.”
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