NERS at private equity firm Permira shared a smaller pot of cash from UK operations this year after fee revenues fell, new accounts show.
The amount of money available for remuneration of the 16 partners fell to £21.94m for the year ending 2012 from £25m in 2011. It follows a similar fall in turnover from £49m to £45m.
The top earning partner at the firm made significantly less than the year previously.
Their pay slid by more than a third to £2.32m from £3.45m, accounts filed last week show. Permira declined to comment.
Permira is considered one of a handful of mega buyout shops in Europe to match the clout of US private equity giants.
However, it struggled to raise a follow-on fund of similar size to its €9.6bn fund four raised in 2006 and held a first close at €2.2bn for its fifth fund in April this year.