Eurazeo heads for EUR 1bn H1 2022 close for PME IV

Harriet Matthews
19 May 2022

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Listed Paris-headquartered GP Eurazeo is expecting a final close on approximately EUR 1bn for its mid-market-focused Eurazeo PME IV fund in H1 2022, the firm said in its Q1 2022 results.

The fund was launched in March 2021 and has made three deals to date: insurance, savings and pension service provider Groupe Premium; corporate governance software DiliTrust; and cybersecurity firm I-Tracing.

The vehicle is expected to follow the strategy of its EUR 658m, 2016-vintage predecessor fund, backing France-based mid-market companies and deploying equity tickets in the EUR 20m-100m region.

The fund had secured more than EUR 900m in commitments as of July 2021, including EUR 400m from Eurazeo's balance sheet, according to Unquote Data.

The GP's PME strategy is looking to sell transportation business Redspher (formerly known as Flash Europe), Unquote sister publication Mergermarket reported in March. The GP bought a 43% stake in the company in 2015.

As reported by Unquote, Eurazeo made a regulatory filing for Eurazeo Capital V earlier in May, signalling further fundraising plans for this year.

Eurazeo also said in its Q1 2022 results that it has raised EUR 5.3bn across its various strategies over the past 12 months, with EUR 878m raised in Q1 2022. The GP deployed EUR 1.7bn across its strategies in Q1 2022, versus EUR 1.1bn in Q1 2021, the statement said.

Eurazeo currently has EUR 4.7bn of dry powder, according to the statement. The GP said in the same statement that it is focusing its deployment on sectors in which it has "recognised expertise", including healthcare, digital and sustainable infrastructure.