Index: supervisor/options.py
--- supervisor/options.py.orig	2014-08-30 17:02:03.821581000 +0200
+++ supervisor/options.py	2014-08-30 17:02:32.781393672 +0200
@@ -99,7 +99,7 @@
         self.add("configfile", None, "c:", "configuration=")
 
         here = os.path.dirname(os.path.dirname(sys.argv[0]))
-        searchpaths = [os.path.join(here, 'etc', 'supervisord.conf'),
+        searchpaths = [os.path.join(here, 'etc', 'supervisord', 'supervisord.conf'),
                        os.path.join(here, 'supervisord.conf'),
                        'supervisord.conf',
                        'etc/supervisord.conf',
