# The Paragon Partners Fund II

The Paragon Partners Fund II is an Asset Manager based in Munich, Germany.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** Munich, Germany
- **Region:** Europe
- **Address:** Munich, Germany
- **Assets under management:** Undisclosed
- **Website:** paragon.de

## Regulatory record

- **CRD number:** 314204
- **SEC file number:** 802-121160
- **Registration status:** Registered
- **Reports private funds:** Yes
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/314204

## About

The Paragon Partners Fund II GmbH & Co. KG is a Munich-based investment adviser registered with the SEC since 2021.

## Sectors

- Industrials
- Healthcare Services
- Enterprise Software

## Questions

### What is Paragon's primary value-creation approach once it acquires a company?

Paragon deploys a dedicated in-house operations team that works within portfolio companies immediately after acquisition. Unlike standard private equity oversight, Paragon's operating partners frequently assume line-management roles inside portfolio firms — a model Brenner imported from his consulting background. The firm targets situations where operational improvement, rather than multiple expansion, is the primary driver of returns.

### How does Paragon source its deals in the DACH region?

Paragon concentrates on Germany, Austria, and Switzerland, targeting founder-led businesses facing succession challenges and corporate carve-outs where operational complexity deters generalist buyers. The firm's combination of consulting pedigree and sector specialization creates sourcing relationships with intermediaries, corporate development teams, and family-business advisors across the region.

### What was the final size of Paragon's most recent fund?

Paragon Partners Fund II closed at its hard cap of €355 million in September 2017, oversubscribed from an initial target of €300 million. The fund continues the firm's strategy of mid-market buyouts across the DACH region. As a closed-end vehicle, Fund II has a conventional 10-year private equity fund life.

### Does Paragon have a standard holding period for its portfolio companies?

Paragon's fund documents include an indefinite holding-period posture, meaning the firm is not contractually forced to exit a portfolio company on a fixed timeline. This structure gives the operating team flexibility to compound earnings without running a mandatory sale process. In practice, exits are driven by value-creation milestones rather than a predetermined calendar.

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Last updated: 2026-06-03T20:00:00.000Z

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