# XIO Group

XIO Group is a Private Equity based in London, United Kingdom.

## Overview

- **Organization type:** Private Equity
- **Headquarters:** London, United Kingdom
- **Region:** Europe
- **Address:** London, United Kingdom
- **Founded:** 2014
- **Assets under management:** Undisclosed
- **Website:** xiogroup.com
- **LinkedIn:** https://www.linkedin.com/company/xio-group

## Regulatory record

- **Reports private funds:** No

## About

XIO Group is a private equity firm based in London, UK. It focuses on growth investments. The firm is headquartered in London.

## Sectors

- Private Equity
- Healthcare Services
- Industrial Tech

## Offices

- Hong Kong
- Shanghai

## People

- Joseph Pacini — Chief Executive Officer
- Athene Li — Managing Partner
- Carsten Geyer — Partner

## Questions

### Who runs investment decisions at XIO Group?

Investment decisions sit with Chief Executive Officer Joseph Pacini and the partnership group, which includes Managing Partner Athene Li and Partner Carsten Geyer. Pacini's background running Blackstone's Asia-Pacific private equity operations makes him the central figure in both origination and committee-level calls. The firm has not publicly detailed a formal investment-committee structure beyond the core partnership.

### What happened to XIO Group's cross-border strategy after China's capital controls tightened?

Beginning in 2017, China imposed strict curbs on outbound acquisitions, directly targeting the kind of deals XIO was built to execute — takeovers of Western companies with the aim of relocating capabilities or capturing the China market. The firm's deal flow slowed significantly, and by 2019 it was widely reported to be reassessing its model (public record). XIO has not publicly announced a revised strategy or new fund close since that regulatory shift.

### What was XIO Group's flagship fund, and how large was it?

XIO's flagship and only publicly known fund closed at approximately $1.8 billion in 2016 (per Reuters, 2016). It targeted control buyouts in industrials and healthcare, primarily in Europe and North America, with an explicit thesis of China-driven value creation. No subsequent fund has been publicly announced.

### Which portfolio companies did XIO Group acquire?

Two high-profile acquisitions defined the portfolio: Lumenis, an Israeli maker of medical lasers, acquired in 2015, and a subsidiary of Switzerland's Straumann Group focused on dental implants. Both fit the firm's pattern of acquiring regulated, technology-heavy healthcare assets with clear China-market applications.

### Where does XIO Group's capital come from?

The firm has not publicly disclosed its limited partners. Given Pacini's background and the fund's cross-border thesis, institutional investors in Asia and the Middle East are widely assumed to be significant backers, but no sovereign wealth fund or pension fund has confirmed participation in the public record.

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- [Xiran Capital](https://altss.com/profile/xiran-capital)

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

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