Today marks the third anniversary of a crisis at French buyout firm PAI Partners that threatened the future of its entire business. Three years on, the firm appears to be back on its feet.

On August 21, 2009, it emerged that PAI's executive chairman Dominique Mégret and executive committee member and sector team head Bertrand Meunier - the long-term leaders of the firm - had been ousted, in what was described by various investors as an internal "coup".