peHUB Second Opinion 9.29
Holy Crap: Details on the private equity coup d'état: Dominique Megret, chief executive officer of PAI Partners, France's biggest private-equity firm, was in his office, a 10-minute walk from Paris's Louvre museum, on July 21 when there was a knock on the door. Lionel Zinsou, who joined PAI Partners from Rothschild a year ago, and partners Raffaele Vitale, based in Milan, and Ricardo de Serdio, from Madrid, walked in and said they and three others would resign from the nine-member investment committee unless Megret gave them more power in running the firm, people familiar with the discussions said. The threat infuriated Megret. Read more at Bloomberg. This has happened to me before: Tale of moron PR pitch. (Dealzone) FT Interviews CalPERS: Two stories came from a chat with Leon Shahinian, manager of PE investments at CalPERS. One's on "irony in the brewing tension between investors and private equity firms", and one's on the "battle over fees." Subpeonas: Did Bank of America destroy Countrywide's predator lender phone calls? (WSJ) Vampire: The makers of Twilight are planning to hire Morgan Stanley to advise it on a potential M&A deal. (NY Post)
