French alternative asset manager Eurazeo has more than doubled its private debt fundraising in H1 2024, attracting €1.6bn (£1.3bn) in commitments underlining its growing influence in the private debt market, according to a report by Alternative Credit Investor.
As of 30 June 2024, Eurazeo reported private debt AUM of €8.72bn, marking a 27% increase over the past year. The fee-paying AUM for private debt, meanwhile, stood at €5.84bn, a 9% rise. Overall, Eurazeo’s AUM across private equity, debt and real assets grew by 9% to €35.4bn, with fee-paying AUM rising 10% to €25.8bn.
The firm noted strong momentum in its private debt activity during H1 2024, particularly benefiting from the successful initial closing of the EPD VII fund. Private debt accounted for the majority of Eurazeo’s overall third-party fundraising, which increased by 63% to €2.1bn, including €453m from private clients, reflecting 30% year-on-year growth.
Eurazeo’s expansion outside France includes new distribution partnerships in Germany, Switzerland and Italy. The firm’s evergreen fund, EPVE 3, also exceeded €2.2bn in AUM.
Realisations more than tripled from H1 2023, reaching €1.6bn, with several exits across various asset classes. Despite these successes, Eurazeo reported a net loss of €105m for the first half of the year, primarily due to a decrease in the portfolio’s fair value. Investment activity contributions fell by €156m, although investment activity costs were contained.
