Global private equity firm The Carlyle Group has announced that it has taken a 29.34% stake in German HR software and services vendor Personal & Informatik.

Carlyle purchased 24.9% of P&I shares directly and has been granted options to buy the additional 4.44% of P&I shares.

Michael Wand, managing director of The Carlyle Group and Co-Head of Carlyle’s Technology funds in Europe, says: “We have been monitoring P&I closely since our exit and the company has continued to perform well, which has not been recognised in its share price development.

“In order to reach its full potential of becoming a major European HR software vendor we believe the company will benefit from a strong single shareholder and the renewed partnership with Carlyle.”