French different asset supervisor Eurazeo greater than doubled its personal debt fundraising year-on-year within the first half of 2024, attracting €1.6bn (£1.3bn) of commitments.
The agency reported personal debt property below administration (AUM) of €8.72bn as of 30 June 2024, a 27 per cent improve over the previous 12 months.
Personal debt fee-paying AUM got here in at €5.84bn, a 9 per cent improve.
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Eurazeo stated that “momentum was sturdy within the personal debt exercise” over the primary half, highlighting its direct lending technique that benefitted from the profitable preliminary closing of the EPD VII fund.
The agency’s total outcomes – encompassing its personal fairness, debt and actual property exercise – confirmed a 9 per cent rise in AUM to €35.4bn and a ten per cent rise in fee-paying AUM to €25.8bn.
Personal debt accounted for almost all of Eurazeo’s total third-party fundraising, which elevated by 63 per cent to €2.1bn.
That determine contains fundraising from personal shoppers, which grew by 30 per cent year-on-year to €453m.
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Eurazeo stated that the increase in exercise from the wealth market “reaped the primary rewards of its enlargement exterior of France with some first vital industrial successes in Belgium and distribution partnerships signed with main establishments in Germany, Switzerland and Italy.”
It famous the success of its evergreen fund EPVE 3, which exceeded €2.2bn in AUM.
In the meantime, realisations greater than tripled from the primary half of 2023 to €1.6bn, with the agency asserting a number of exits throughout a spread of its asset courses.
Nevertheless, Eurazeo reported a internet lack of €105m within the first half, whereas funding exercise contribution fell by €156m. “This primarily resulted from the lower within the portfolio honest worth recorded through the first semester whereas funding exercise prices have been contained,” Eurazeo stated.
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In its first-half outcomes, the agency confirmed its ambition to turn into the personal asset administration chief in Europe within the mid-market, development and influence segments.
“Eurazeo achieved additional successes within the execution of its roadmap, in a steadily bettering context,” stated co-chief executives Christophe Bavière and William Kadouch-Chassaing.
“Within the first half of the 12 months, the group continued its constructive momentum in fundraising, recorded a surge in realizations, elevated shareholder return, made additional progress in ESG and prolonged its influence fund line-up. These outcomes verify that we’re on observe to realize the medium-term goals offered to the market in November 2023.”
