PAI's Meyer-Schönherr steps down

Meyer-Schönherr will not be immediately replaced and his responsibilities will be taken over by principals Andreas Kumeth and Philipp Meyer, the sources said.

The move was announced to LPs more than a year ago after Meyer-Schönherr stepped back from investing activities and into an advisory role in 2018, the first source added.

PAI hired Meyer-Schönherr in 2007 to lead its newly opened Munich office. Prior to joining, he was partner and European head of retail & consumer at competitor Apax Partners.

PAI's most recent German deal was the acquisition of engineered foam producer Armacell from Blackstone; the deal was announced in early December. Philipp Meyer part-led this deal, the first source said.

Although Meyer-Schönherr will not be directly replaced, PAI is continuing to grow its Munich team with a strong pipeline of deal opportunities, the first source said.

PAI is currently deploying capital from the €5bn buyout fund PAI VII; the vehicle was 40% deployed as of December 2019, according to Unquote Data. The GP has offices in Paris, London, Luxembourg, Madrid, Milan, Munich, New York and Stockholm.

PAI Partners declined to comment.

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