Rumours of key-man clause following AtriA departures

Atria Private Equity Fund III, which closed on €300m in 2006, will reportedly not be able to make new investments. AtriA was not available for comment.

Edouard Thomazeau and Thibaut de Chassey resigned from their positions at AtriA in April. The two partners left the firm together and stated the departure was motivated by "strategic divergence". Their future plans remain unknown.

Thomazeau and de Chassey had worked at AtriA since its inception in 2000. They worked on 16 deals during this time, including the €45m acquisition of car security firm Eurodatacar in 2001 and AtriA's reinvestment in windows manufacturer FPEE in 2009.

Ahead of a potential new fundraising effort, the firm now seems to be in exit mode: it divested its stakes in six portfolio companies since the beginning of the year, including vehicle leasing company Parcours, and just last week quality control business Trigo.

According to its website, AtriA hasn't made new investments since 2008. Its Fund III is believed to be 60% invested.

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