Eurazeo: 11% Increase in Q1 2026 Fundraising and BBB Rating Achieved
On Wednesday, Eurazeo confirmed the strengthening of its business model in the first quarter of 2026, driven by a fundraising from third parties of 1.1 billion euros (up 11%) and by bolstering its financial structure with an investment grade rating (BBB stable outlook) from S&P and Fitch.
Fundraising and AUM Growth, Stable Management Fees
Third-party fundraising reached 1.1 billion euros in Q1 2026, up from 0.9 billion euros in Q1 2025, marking an 11% increase. The assets under management (AUM) stand at 39.2 billion euros, with a 14% growth for third parties. The fee-producing assets under management (FPAUM) have reached 28.9 billion euros, showing a 13% increase for third parties. Management fees grew by 3% to 105 million euros, with a 10% increase for third parties. This moderate growth in fees contrasts with the faster pace of fundraising, suggesting a lag in the monetization of incoming flows.
Active Portfolio Rotation and Growth in Invested Companies
Asset rotation accelerated during the quarter, with the group's realizations increasing by 140% to 0.6 billion euros. The disposals of Fermax and Ex-Nihilo were notably completed at 150% above their last valuations. Deployments increased by 17% to 0.9 billion euros, while balance sheet disposals reached 0.1 billion euros, a sixfold increase from Q1 2025. In the portfolio, Buyout companies recorded a 6% revenue growth, while Growth assets increased by 22% (including 58% for EGF IV). In real assets, the hotel business grew by 6% and sustainable infrastructure by 36%.
Investment Grade and Bond Issue to Strengthen Financial Structure
The acquisition of the investment grade rating (BBB stable outlook) from S&P and Fitch was followed by the successful issuance of an inaugural 500 million euros bond, oversubscribed four times. This issuance diversifies financing sources and allows for the spreading of maturities. The group's gearing remains limited to 16% at the end of Q1 2026. Eurazeo continued to increase returns to shareholders, with a regular dividend of 2.92 euros (up 10%) voted at the general meeting on May 6, and share buybacks representing about 4% of the capital in 2026, with 1% already realized in Q1 2026.
