Eurazeo has held the final close of Idinvest Private Debt V, its fifth direct lending fund, at EUR1.5 billion, ahead of its initial EUR1.2 billion target.
Along with the Group’s EUR500 million in private debt funds and investment mandates, its current private debt programme now totals EUR2.0 billion.
Building on the solid track record of its four previous vintages of direct lending vehicles, this fund was raised thanks to the renewed confidence of Eurazeo’s long-standing investors, while also attracting many new investors. Today, more than 70 per cent of the fund’s investors are located outside France.
Eurazeo’s Private Debt team, with EUR5 billion AuM, arranges senior or subordinated debt for European SMEs valued at between EUR30 million and EUR300 million. Since its creation in 2007, the team has arranged over 120 transactions for a cumulative value of EUR3.6 billion. Drawing on the experience of its 21 international members, the team focuses on high-growth sectors (tech, health care and professional services, among others) and aligns its activities with O+, Eurazeo’s ambitious ESG strategy.
Spurred by a buoyant environment and a strong pace of investment, Eurazeo’s Private Debt team is already planning the launch of its next vehicle, Eurazeo Private Debt VI. Since its launch in 2019, Private Debt V has invested nearly 80 per cent of its total commitments, more than half of which outside France in 15 companies, including Avenga (Germany), SAS (Spain), Pepe Parts (the Netherlands) and Ylda (Italy).
François Lacoste, Managing Partner and Head of Private Debt at Eurazeo, says: “In these unusual times, we are very grateful for the continued support of our investors and the trust they have placed in us, and we are proud to have exceeded our initial fundraising target. We are convinced that the private debt market will continue to be a source of new opportunities for Eurazeo. We are keen to invest in high-performing and promising companies, alongside top management teams and sponsors in Europe.”
Eric Gallerne, Managing Partner, Private Debt at Eurazeo, adds: “We are extremely pleased with the success of this funding round for our direct lending investment vehicle. Our 15 years of experience in the European SME segment give us a unique position to ensure access to the most promising opportunities for our investors.”
