Eurazeo has exceeded its fundraising target for the Eurazeo PME IV Fund by attracting more than €1 billion, 50% more than its previous fund.
Since 2006, the small-mid buyout strategy’s assets under management have grown from €50 million to more than €1 billion. In 2011, these investments were financed solely by Eurazeo’s balance sheet, but now more than 60% of assets come from institutional and private investors, as opposed to 38% for the predecessor fund.
Partner-investors include top-tier institutional investors – asset managers, sovereign funds and insurance companies – and family offices originating in France (64%), other European countries (24%) and Asia (12%).
Their renewed confidence also reflects the returns generated by Eurazeo’s small-mid buyout strategy, resulting in particular from its strong track record in terms of exits. Recent disposals include Orolia (x3.7), Vitaprotech (x3.2) and Intech Médical (x3).
The fund has already got off to an strong start, investing 40% of its assets in five new investments: i-Tracing, an independent French leader in cybersecurity services; Dilitrust, a provider of unified, secure legal SaaS solutions; Wiismile, a provider of all-in-one employee benefit plans; Sevetys , a group of veterinary clinics; and Groupe Premium, a French distributor of life insurance and retirement savings solutions.
