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Meet the team
Stefano Drago
Founding Partner, Mid-Market Fund
Stefano joined PAI in 2005. In early 2020, he became one of the Founding Partners of the Mid-Market Fund Team. For PAI MMF, he has led the Arlettie, Amplitude Surgical, La Compagnie des Desserts, MyFlower, Nutripure and VITREA investments.
Previously, he was the Partner responsible for investments in the Healthcare sector for the flagship fund and as such has been involved in several investments, most recently Zahneins, ELITechGroup, Ethypharm, Atos Medical, DomusVi and Cerba Healthcare. Outside of healthcare, he has been involved in the Kiloutou and Provimi investments.
He started his career within the R&D department of France Telecom (now Orange) for three years, and then spent four years with McKinsey & Company in their Italian and Singaporean offices, before joining PAI in 2005.
Stefano holds an MSc in Engineering from both Politecnico di Torino (Italy) and Telecom Paritech (France), as well as an MBA from INSEAD.
Stefano Shuster
Executive Director, Mid-Market Fund
Stefano joined PAI in 2019. He spent six years in the Flagship Fund, where he was involved in the Pasubio investment, before moving to the Mid-Market Fund in 2025. He has participated in the Orion investment.
Prior to joining PAI, Stefano spent three years at The Boston Consulting Group, one year in Morgan Stanley’s Investment Banking Division in London and two years at OpCapita, a London‑based European mid‑market private equity firm.
Stefano holds an MBA from London Business School and a MSc in International Management from Bocconi University.
