Eurazeo noticed its non-public debt property underneath administration (AUM) rise by 11 per cent year-on-year to €7.4bn (£6.4bn) in its newest annual outcomes, which means that the asset class now makes up 21 per cent of the European funding supervisor’s portfolio.
The Paris-headquartered agency reported that fee-paying non-public debt AUM rose by 10 per cent year-on-year to €5.76bn within the 12 months to 31 March 2024.
Eurazeo’s total AUM rose by eight per cent over the interval to €34.8bn, whereas fee-paying AUM amounted to €25.6bn, additionally up eight per cent over 12 months.
Learn extra: Eurazeo to launch non-public debt fund for retail buyers in second half of 2024
Personal fairness makes up the lion’s share of Eurazeo’s enterprise, equating to 73 per cent of its AUM, adopted by non-public debt after which actual property, which account for six per cent of the ebook.
Regardless of the expansion in property, fundraising was considerably down within the first quarter of this 12 months in comparison with the identical interval final 12 months.
Eurazeo’s non-public debt methods raised €80m within the first quarter of 2024, in comparison with €512m within the first quarter of 2023.
“Fundraising from institutional shoppers (LP) was restricted within the first quarter of 2024 as a result of closing schedule of the principle funds, Eurazeo stated. “The group confirms its constructive fundraising outlook for 2024, given its wealthy and diversified fundraising pipeline. In a contrasted fundraising setting that’s step by step recovering, the group’s industrial exercise is passable, notably within the non-public debt (launch of EPD VII), buyout, mandates and sustainable infrastructure segments.”
Learn extra: Eurazeo makes new rent to assist European growth plans
Commenting on the outcomes, co-chief executives Christophe Bavière and William Kadouch-Chassaing stated: “The beginning of 2024 was marked by a gradual restoration in our sector.
“Underlying long-term traits stay supportive: elevated allocations from institutional and personal buyers to personal markets, substantial financing wants for the true financial system and, digital transformation and power transition.
“We’re centered on delivering on our strategic and operational roadmaps and we verify our outlook for 2024 with: a wealthy and diversified fundraising pipeline, anticipated pick-up of realizations in the course of the 12 months and consolidation of our management on ESG and influence.”
Learn extra: Eurazeo raises €2.3bn for up to date direct lending fund
