PAI Partners CEO Zinsou to step down in 2015


zinsouChief executive of private equity firm PAI Partners Lionel Zinsou is reportedly set to resign in 2015 to be replaced by current CIO Michel Paris.

Zinsou will then join the Paris-based firm’s supervisory board before retiring in 2017, said the FT, citing three people with knowledge of the matter, adding that the firm has raised €600m for its latest buyout fund.

The outgoing CEO could replace Amaury Daniel de Seze as chairman, but this has yet to be decided, said the people.

Last week PAI said at its investor meeting that it was on track to secure commitments of €1bn for its €3bn buyout fund by July in a dry close, which means it will put the money aside until it decided to invest them, said the report.

Some of PAI’s existing LPs such as Canadian pension fund CPPIB are unlikely to back the new fund after the 2009 management row, which saw top managers Dominique Mégret and Bertrand Meunier quit the firm only a year after Zinsou joined from Rothschild, said the sources.

Last month AltAssets reported that PAI returned €4.6bn to investors across six exits over the past two years, bagging an average return of more than four times.

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