AtriA and Duke Street: talks fall through

Talks had been at an advanced stage and financial terms for the merger seem to have been the main point of contention, the paper added. AtriA will keep looking for potential buyers, and is aiming to find an interested backer by year-end.

The mid-cap GP, which was founded in 2000 by industry veteran Dominique Oger and has €300m worth of assets under management, has been struggling with succession issues this year.

Partners Edouard Thomazeau and Thibaut de Chassey resigned from AtriA in April, triggering a keyman clause on the firms' third vehicle. The two partners left the firm together and stated the departure was motivated by "strategic divergence" - reportedly over Oger's succession plan.

Atria Private Equity Fund III, which closed on €300m in 2006, should not be able to make new investments. It is believed to be 60% invested and now seems to be in full exit mode: it has divested its stakes in six portfolio companies since January, including vehicle leasing company Parcours and quality control business Trigo.

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