Eurazeo is planning to launch a brand new retail fund and its fourth asset-backed financing (ABF) product within the coming months.
The personal markets asset supervisor already has a big retail fund which is structured and primarily based in France. Nonetheless, Nicolas Nedelec, accomplice, personal debt at Eurazeo, advised Various Credit score Investor that the agency is at present establishing a brand new European retail fund for subsequent yr which might be domiciled in Luxembourg. It will imply that the brand new fund is open to traders from throughout Europe, and never simply France.
Learn extra: Eurazeo sees personal debt AUM rise by 26pc to €8.8bn in Q3
“We’ve obtained a fund in France already the place we’ve raised over €1bn (£830m) and that’s basically co-investing the flagship fund, giving mainstream traders entry to direct lending throughout Europe,” mentioned Nedelec.
“And we’ll be setting the identical factor up for the remainder of Europe, counting on the community of distributors in every single nation, that are typically wealth managers or insurance coverage firms.”
Nedelec added that Eurazeo can be elevating for its fourth ABF fund, following the success of its maritime transition fund.
Learn extra: ABF an “evolutionary step” for personal debt traders
“We’re really elevating our fourth ABF fund,” mentioned Nedelec. “ABF is one thing we’ve been doing for 5 to 10 years now already. It’s a massive factor within the US, however it’s not such an enormous factor in Europe as a result of it’s nonetheless fairly fragmented. And likewise the European banks have stayed fairly bullish on this space.
“Banks are actually ceding floor, however at various paces throughout totally different international locations and industries, so you have to be very cautious about what you do.”
In 2023, Eurazeo partnered with Société Générale on the launch of the Eurazeo Maritime Transition Fund, an asset-backed technique which is devoted to supporting the transition in direction of a extra sustainable maritime sector.
Learn extra: Eurazeo makes new rent to help European enlargement plans