Ex-PAI CEO Lionel Zinsou to run for president of Benin

Zinsou was put forward as the candidate for the ruling FCBE party, as current president Boni Yayi cannot seek a third term for constitutional reasons.

Zinsou moved into the political sphere after a storied career in private equity when he was appointed prime minister of the Republic of Benin in June this year. PAI announced two years ago that its chief executive would step down from his leadership role in 2015, to be replaced by then chief investment officer Michel Paris. The plan at the time was for Zinsou to join the firm's supervisory board before eventually retiring in 2017.

Zinsou joined PAI in 2008, having previously worked for investment bank Rothschild. He had already started cultivating links to the political sphere, having worked alongside former French prime minister Laurent Fabius, who is now foreign affairs minister in François Hollande's government. Zinsou's arrival and rise at PAI sparked internal controversy, which ultimately resulted in the departure of key partners Bertrand Meunier and Dominique Mégret.

Read more: Politics and private equity – the revolving doors

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