Eurazeo to set up €10m Covid-19 solidarity fund

The GP has said it will, at its annual general meeting on 30 April, propose to its shareholders to suspend its 2019 dividend and take action to help combat the pandemic.

The fund will be financed from Eurazeo's cash holdings and from donations from its board and executive committee members, who will contribute 10% of their annual bonuses for 2019 to the fund.  

Money from the fund will be allocated to helping employees of Eurazeo and its subsidiaries who are in urgent medical or financial need, organisations providing immediate support to vulnerable groups, Paris university hospital trust AP-HP, and charities for the homeless, including Samusocial in France and New York charity The Bowery Mission.

The GP also said it is doubling its sponsorship budget for 2020 and will continue to support charities that promote education and equal opportunities.

It has highlighted portfolio companies that have been able to help during the outbreak, including hydroalcoholic gels manufacturer Seqens; Peters Surgical, which makes catheters to treat patients in respiratory distress; Linvosges, which has resumed operations at its Gérardmer factory to make protective masks for hospitals and retirement homes; and Doctolib, which is offering free remote consultations and increased the number of doctors providing consultations from 3,500 to 63,000.

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• Eurazeo