Old men in French city university making even progress (4,5)

I believe the answer is:

pari passu

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'making even progress' is the definition.
I can't tell whether this definition defines the answer.

'old men in french city university' is the wordplay.
'old men' becomes 'pas' (I've seen this in another clue).
'in' indicates putting letters inside.
'french city' becomes 'paris' (capital of France).
'university' becomes 'U' (abbreviation as in UMass).
'pas' put within 'paris' is 'paripass'.
'paripass'+'u'='PARI PASSU'

Can you help me to learn more?

(Other definitions for pari passu that I've seen before include "Simultaneously" , "Together" .)

I've seen this clue in The Times.

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