Last year the firm was said to targeting €350m for the vehicle, its second. The firm’s inaugural investment fund raised €220m in 2008.
Investors comprise family offices, private individuals and institutional investors, with the latest fund said to be oversubscribed.
In June 2013 Paragon bought a majority interest in Swiss frozen foods producer KADI from ECM Equity Capital. Earlier this month the firm bought the German convenience retail segment from the Dutch food group Vion.
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