A successful fundraising program in 2022 in a complex and uncertain market environment
Eurazeo raised €3.1bn in 2022 from limited partners in line with its announced €3bn expectation. The 2022 fundraising program primarily consisted of funds continuing the successful fundraising initiated in 2021, notably in the Small-mid buyout, Venture and Private Debt strategies.
The completion of this program illustrates the appeal of Eurazeo’s different investment strategies to major international investors and retail clients.
Eurazeo has stepped up the development of investment solutions dedicated to retail investors, therefore covering all of the Group’s investment strategies. The fundraising from this category of investors represented more than €800m in 2022, i.e. a quarter of the total amount raised over the year, up by 46% from 2021.
Renowned investment strategy expertise
In Private Equity, Eurazeo raised around €1.6bn thanks to the continued success of several funds:
- The PME IV fund closed above its one billion euro target, i.e. an increase of more than 50% compared to the previous fund, including more than €200m raised in 2022. This reflects the attractiveness of Eurazeo’s strategy dedicated to supporting the growth of French SMEs which are leaders in their sectors;
- The Venture activity raised close to €380m in 2022, in particular on the Eurazeo Smart City Venture II and Digital IV funds;
- In Biotech, the Kurma Growth Opportunity fund raised more than €120m in 2022.
The Private Debt strategy had a good momentum in the period, with €1.0bn raised in 2022:
- For the very buoyant mid-market unitranche activity, 2022 was marked by the successful fundraising of the sixth direct lending program, which is expected to close at above €2bn in 2023;
- The Group also reported further progress in its “Article 9” classified Eurazeo Sustainable Maritime Infrastructure (ESMI) fund, confirming the importance of its positioning with more than €200m raised in total.
In Real Assets, the fund dedicated to transition infrastructure, which is “Article 9” classified under the SFDR, completed a first closing at €210m in November 2022. This fund, which aims to support the transition towards a low-carbon economy, benefits from a strong appeal to investors.
Eurazeo has a significant fundraising program in 2023 with new funds for several of its flagship strategies (Mid-Large Buyout, Growth, Private Funds Group, Private Debt). Together, these fundraising activities will enable the Group to pursue its ambitious development.
Furthermore, the recent launch of new products dedicated to retail investors, such as Eurazeo Principal Investments in Private Equity or an ELTIF fund in Real Estate, as well as the signing of distribution partnerships with leading players (Boursorama, etc.) will help to fuel fundraising in 2023.
Virginie Morgon, Chairwoman of the Executive Board, stated:
“In 2022, the Group demonstrated its ability to deliver its fundraising program despite a complex and uncertain market environment. The billion raised by the Small-mid buyout team, the great success of the Smart City II fund and the good momentum of our Private Debt and Infrastructure funds in particular illustrate the confidence of our investors. In 2022, we also confirmed the strength of our offering for retail investors, with more than €800 million raised. In 2023, we will continue our ambitious development with a major fundraising program to support the development and transformation of companies.”
Eurazeo financial timetable
|8 March 2023||2022 annual results|
|26 April 2023||Annual Shareholders Meeting|
|16 May 2023||Q1 2023 revenue|
|27 July 2023||H1 2023 results|
|8 November 2023||Q3 2023 revenue|