After the takeover of Idinvest, its alliances with the Spanish MCH, the American Rhône and the Chinese CIC, the move towards management on behalf of large investors produced its first effects. The investment company published revalued net assets up 7.1% and is accelerating its fundraising with large institutional investors.

Virginie Morgon, President of Eurazeo as of March 19, 2018

Eurazeo changes league. The investment company headed by Virginie Morgon has recorded the first effects of the change of course towards management on behalf of third parties, in the footsteps of the large Anglo-Saxon private equity platforms.

In one half, the firm based on both shores of the Atlantic saw its total assets grow by 8.9% to 17.7 billion euros, including nearly 12 billion euros provided by third-party investors. A key indicator for listed private equity companies, the value of the holding’s holdings (revalued net assets) rose 7.1% to 77.8 euros per share at the end of June. Its management income has progressed well (+ 13% in commissions to 95.6 million euros and multiplication by 2.7 of its income from capital gains on disposals).

First steps with Chinese CIC

After the integration of Idinvest, the acquisitions of holdings in the American Rhône and the Spanish MCH, and its alliance with the Chinese CIC, Eurazeo increased its investment capacities (by 4.4 at the end of June 2019 compared to during the 2011-2015 period), and capital raising. The closing of the partnership with the Chinese giant is expected in 2020. But a sign of the strong interest of CIC, the ophthalmic surgery specialist Dorc, recently acquired by Eurazeo, is already identified as a future opportunity for the new Sino-French alliance .

In the space of one half-year, 1.2 billion euros of new funds came to irrigate its investment channels, and its historic flagship vehicle Eurazeo Capital has just announced a fundraising from third parties, an increase of 40 % compared to the previous one.

In the wake of the United States and China, Virginie Morgon continues the international expansion of the firm with the opening of an office in Seoul in order to follow its major providers of capital … and at the same time, consolidates its anchoring European in Germany and London, in particular for its “tech” division (Eurazeo Growth).

Big acceleration in tech

Resulting from the alliance between Idinvest and the Eurazeo teams, it confirms its rise in power with four investments totaling 218 million euros in six months, in the French ManoMano, Meero, PayFit and the German Adjust. “Between the United States and Europe, the flow of investment opportunities is rebalancing for the benefit of European entrepreneurs. The needs of tech champions on the continent over the next 18 months are estimated at 2.5 billion euros and Eurazeo fully intends to be their leading partner ”, underlines the manager, while Eurazeo Growth has committed to a new fundraising of 1 billion euros. To date, the Franco-American firm has funded 5 of the 9 French unicorns including Doctolib and Meero. On Wednesday, she again announced the sale of Smile, champion of free software, for a multiple of 2.3 times.