PAI Partners – the Paris-based buyout firm – is locked in talks with its limited partners that could see its latest fund either slashed in size or wound down altogether. Is this symptomatic of a general LP retreat from the large buyout market, or is it more complicated than that?
The surprise replacement of chief executive Dominique Mégret, a 35-year veteran of the firm and chief executive since 2006, triggered a key man clause in the limited partner agreement of the €5.4
