French asset supervisor Eurazeo reported sturdy momentum in its non-public debt enterprise final yr, with fundraising volumes rising by 86 per cent to €2.5bn (£2.1bn) due to its direct lending programme.
Non-public debt belongings underneath administration (AuM), which make up 26 per cent of Eurazeo’s enterprise, elevated by 23 per cent year-on-year to €9.23bn, whereas fee-paying AuM rose by 10 per cent to €6.57bn.
Eurazeo, which has greater than two thirds of its belongings in non-public fairness and a smaller actual belongings ebook, reported a 4 per cent improve in whole AuM to €36.1bn and an eight per cent rise in whole fee-paying AuM to €26.95bn.
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Price-related earnings rose by 11 per cent to €150m, throughout a yr during which Eurazeo deployed €4.6bn of belongings – up from €3.9bn in 2023.
Eurazeo stated that it had carried out strongly within the first yr of its strategic plan.
“Eurazeo closes the primary yr of its 2024-2027 strategic plan delivering a robust efficiency and cementing its place as a significant private-market asset supervisor in Europe,” stated co-chief executives Christophe Bavière and William Kadouch-Chassaing.
“This yr, we made headway in all of the introduced standards: elevated fundraising, larger income and margin, sharp upturn in asset rotation, high quality of portfolio firm efficiency.
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“The share buyback program can be doubled in 2025 and a ten per cent improve within the bizarre dividend can be proposed on the subsequent shareholders’ assembly. In a market that is still unsure, we count on to see an additional improve in exits and improved worth creation prospects.”
Eurazeo raised €2.3bn for its sixth direct lending fund on the remaining shut in November 2023, beating its €2bn goal.
Nicolas Nedelec, accomplice, non-public debt, stated at a media roundtable final month that Eurazeo is at the moment fundraising for its seventh direct lending fund with a goal of €3bn, which he expects to be oversubscribed by the summer season.