PAI founder joins French distressed investment firm

Lise Nobre has joined Parisian turnaround specialist Butler Capital, owner of Paris St Germain football club.

Lise Nobre, a partner and founding team member of European buyout group PAI Partners, has left the firm to join Butler Capital Partners, the French distressed investment-focused private equity firm.

Lise Nobre

Butler’s Paris-based team now comprises five partners and 14 professionals. The firm has been buying distressed businesses in France for 18 years and its current portfolio includes the likes of industrial transport business Giraud and football club Paris St. Germain.

Nobre joins Butler having latterly headed up PAI’s capital goods group, which covers sectors such as paper and packaging, automotive, aeronautics, electrical appliances and household equipment.

PAI is currently in negotiations with lenders to Monier, a French roofing manufacturer, to restructure its debt. A proposal from the buyout firm, which would have seen the injection of €125 million in return for a “haircut” of two-thirds of the firm’s debt, was rejected by lenders earlier this month and negotiations are ongoing.