Eurazeo holds first close on €500m for Capital IV

The fund, launched in September last year, is targeting a €2.5bn final close to take place before the end of 2019, Unquote understands. 

The fund would significantly surpass its predecessor, Eurazeo Capital III, closed on €500m in December 2016. 

Eurazeo generally raises funds from third-party investors and also uses its own balance sheet. It currently manages €17bn in assets, including nearly €11bn from third parties, invested in more than 300 companies.

Unquote recently interviewed Eurazeo Capital head Marc Frappier during the Ipem conference in Cannes - click here to watch the video.

Investors 
Eurazeo will significantly commit to its latest Capital fund, providing around two thirds of the commitments. 
 
Expanding its international base and welcoming US LPs specifically was a top priority for the GP, a person familiar with the situation told Unquote.

International LPs that have already made commitments to the fund are institutional investors - including asset managers, sovereign wealth funds and insurance companies - as well as family offices, from North America (53%), Europe (29%), and Asia (18%).

Investments
The GP will mostly pursue the investment strategy used for the fund's predecessor: it will provide equity tickets in the €200-400m range to mid-market businesses that have the potential to quickly scale up internationally to go through a digitalisation process.

Companies will be based both in Europe and in the US. Eurazeo has had an office in New York since 2016 and is aiming to increase its activities in North America. 

Eurazeo is keen on taking on co-investments via the vehicle, including from its own LPs. 

People
Eurazeo Capital - Marc Frappier (managing partner). 
Eurazeo Development - Frans Tieleman (managing partner).

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