Eurazeo

What Eurazeo does

Eurazeo SE is a Paris-headquartered, publicly listed (Euronext Paris: RF) private markets asset management firm, founded in 1969 with its current Executive Board/Supervisory Board governance structure adopted in 2002. As of December 31, 2025, the firm managed €39 billion in total Assets Under Management, of which €30 billion came from third-party institutional and private clients, distributed across three asset classes (Private Equity, Private Debt, Real Assets) and ten areas of expertise, including the Capital (upper midcap) and Elevate (lower midcap) buyout strategies, Growth, Venture, Healthcare (Nov Santé, Kurma Partners), Secondaries & Mandates (Private Funds Group), Direct Lending, Asset-based Finance, Real Estate, and Infrastructure.

The firm's investment activity spans Buyout, Growth, Venture, Private Debt, and Real Assets strategies targeting European mid-market companies, supported by sector-specialized teams in technology, business services, healthcare, energy transition, financial services, and consumer goods. The technology stack supporting these operations includes a digital investor portal (Intralinks) for LP reporting and ESG disclosure, an online SME financing platform (ISIA) for asset-based finance, internal portfolio management systems, and digital due diligence tools. The proprietary O+ framework embeds sustainability and impact considerations across every investment stage. Distribution is anchored by a 54-person Investor Relations team across 10 cities on three continents, serving 500+ institutional LPs (sovereign funds, pension funds, insurers, family offices) and 120,000+ private investors through direct institutional sales, the Wealth Solutions platform (EPIC and EPSO evergreen funds), and 14 owned offices.

Eurazeo generates revenue primarily through recurring management fees on AUM (growing 10% in 2025), supplemented by performance fees and carried interest from exits (targeted at ~10% of third-party management revenues by 2027), investment income from its €6.8 billion proprietary balance sheet portfolio, and asset rotation through €1.5 billion in 2025 realisations. Recent strategic emphasis has shifted decisively toward third-party asset management growth, supported by a record €5.5 billion fundraising in 2025 (+28% YoY), the €3.9 billion EPD VII direct lending flagship, the €3 billion Capital V fund, the €1 billion+ first close of PME V, and new product launches including the ESMI II sustainable maritime infrastructure fund and the EPIC/EPSO pan-European evergreen wealth funds. The firm holds BBB credit ratings from both S&P and Fitch and reported a market capitalization of approximately €2.94 billion as of June 23, 2026.

Name

Eurazeo

Legal name

Eurazeo SE

Website

https://eurazeo.com

Company type

Public

Founded year

2002

Operating status

Operating

Headcount range

251–500 employees

Short description

Eurazeo SE is a publicly listed Paris-headquartered private markets asset manager with €39 billion in AUM, investing across private equity, private debt, and real assets for 500+ institutional LPs and 120,000+ private investors via ten specialized strategies.

Ownership category

akta.pro rank

Headquarters

HQ city

Paris

HQ country

France

HQ region

Europe

Offices14 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D

Revenue model

1. Management Fees (Recurring AUM-based): Recurring revenue from management fees charged on Assets Under Management. Total AUM reached €39 billion as of December 31, 2025, up 8% year-over-year, with third-party AUM of €30 billion (15% growth) and private markets management fees growing 10%. This forms the predictable, recurring base of Eurazeo's revenue, providing cushioning against cyclical volatility.
2. Performance Fees / Carried Interest: Performance-based compensation from successful fund exits, with the company targeting performance fees to represent approximately 10% of third-party management revenues by end of 2027. Includes carried interest realized from exits such as Ex Nihilo (2.5x return), Cognigy, LumApps, DORC, and others.
3. Investment Income from Proprietary Portfolio: Returns from Eurazeo's own balance sheet investments. The Group manages a €6.8 billion proprietary portfolio and holds a stake in the businesses it invests in, generating investment income that contributed to net income but was negative in 2025 due to non-cash fair value changes (consolidated net income of -€403 million).
4. Realisations & Asset Rotation: Revenue from successful exits and realizations, with €1.5 billion in realisations completed in 2025 and €1 billion returned to shareholders over two years. Includes divestments of Ex Nihilo, CPK Group, Ultra Premium Direct, Albingia, and others.
5. Private Debt & Asset-based Finance Returns: Income from direct lending to European SMEs (€5-100 million per deal) and asset-based finance, including €10+ billion invested through comprehensive range of funds supporting 410+ European companies. Recent funds include EPD VII (€3.9bn) and ESMI II (€175m first close).

Pricing tiers

Go-to-market motion4 records

Distribution channels8 records

Marketing channels11 records

Core offering

Eurazeo is a private markets asset management firm investing in European SMEs and managing a diversified portfolio of assets across three asset classes: Private Equity (Buyout, Growth, Venture, Healthcare), Private Debt (Direct Lending and Asset-based Finance), and Real Assets (Real Estate and Infrastructure). It deploys capital through dedicated fund vehicles (upper midcap Capital, lower midcap Elevate, Growth, Venture, Planetary Boundaries, Direct Lending, Asset-based Finance, Secondaries & Mandates) with equity tickets ranging from €5 million to over €200 million. The firm also offers Wealth Solutions for individual investors through evergreen funds (EPIC and EPSO) and manages a €6.8 billion proprietary balance sheet portfolio.

Product overview

Eurazeo operates a multi-strategy private asset management platform rather than a single unified software product. Its offering is structured around three core asset classes (Private Equity, Private Debt, Real Assets) delivered through ten areas of expertise, with €39 billion in assets under management as of December 31, 2025. The Private Equity arm comprises Buyout (with Capital upper-midcap and Elevate lower-midcap sub-strategies), Growth, Healthcare (Nov Santé and Kurma Partners), Venture (Digital and Future Industries), and Secondaries & Mandates. Private Debt includes Direct Lending and Asset-based Finance. Real Assets covers Real Estate and Infrastructure. Specialized products include the Eurazeo Planetary Boundaries Fund (EPBF) impact buyout strategy, the Eurazeo Wealth Solutions retail platform with EPIC and EPSO evergreen funds, and the Eurazeo Corporate Website & Investor Portal providing investor relations, shareholder services, and a Limited Partners portal. The platform manages over 700 portfolio companies through a team of 450+ specialists across 14 offices in Europe, Asia, and the United States.

Differentiator

Problem solved

Functional benefit

Brands

• Eurazeo Capital: Buyout strategy targeting the upper midcap segment (equity tickets beyond €200 million) in technology-enabled business services, life sciences/healthcare, and financial services. Includes the Eurazeo Capital V fund (€3 billion closed 2025).
• Eurazeo Elevate
• Eurazeo Planetary Boundaries Fund (EPBF)
• Eurazeo Growth
• Nov Santé Actions Non Cotées Fund
• Kurma Partners
• Eurazeo Venture
• Eurazeo Secondaries & Mandates (Private Funds Group)
• Eurazeo Private Debt
• Eurazeo Real Assets
• Eurazeo Infrastructure Partners (EIP)

Products and services

• Eurazeo Capital (Buyout Upper Midcap) Buyout strategy targeting the upper midcap segment with equity tickets beyond €200 million in technology-enabled business services, life sciences/healthcare, and financial services. Partners directly with management teams, provides sector expertise and structuring capability, with a European/global footprint to accelerate transformation and international expansion. Includes the Eurazeo Capital V fund (€3 billion closed 2025).
• Eurazeo Elevate (Buyout Lower Midcap) Lower Mid Cap strategy focusing on technology and business services sectors, with equity tickets typically up to €150 million. Includes the Eurazeo PME IV (€1 billion) and PME V (€1 billion first close) funds.
• Eurazeo Planetary Boundaries Fund (EPBF) Buyout impact strategy targeting European small and mid-cap companies contributing to environmental transition and regeneration of natural resources, with focus on low-carbon energy, circular economy, water, waste, agriculture, food, and transport.
• Eurazeo Growth Growth equity team investing in digital health, marketplaces, and fintech scale-ups (Series C onward) with tickets from €25 million to €100 million. Includes Growth Fund IV (EGF IV, €650 million first close). 16 European tech experts supporting founders from Series C onward.
• Eurazeo Venture Early- to growth-stage venture investing (up to Series C) in digital, smart cities, climate, and healthcare. Includes Venture Future Industries and Venture Digital sub-areas. €2.8 billion AUM with 190+ companies funded.
• Eurazeo Private Debt European mid-market private debt business (Direct Lending and Asset-based Finance) supporting SMEs valued €25-500 million with direct lending tickets of €5-100 million per deal. Includes the Eurazeo Private Debt VII fund (€3.9 billion closed 2026) and €10+ billion invested supporting 410+ European companies over 15 years.
• Eurazeo Secondaries & Mandates (Private Funds Group) 20-year-old platform providing institutional investors tailored access to private markets via three investment strategies: commitments to primary funds, secondary transactions, and direct equity co-investments. Manages €6.4 billion in AUM with 170 existing GP relationships.
• Eurazeo Infrastructure Partners (EIP) / Eurazeo Transition Infrastructure Fund Infrastructure team managing the Eurazeo Transition Infrastructure Fund covering digital, energy-transition and renewable-energy infrastructure, supported by the European Investment Fund (EIF) and InvestEU. 40 completed infrastructure investments to date.
• Eurazeo Real Assets / Real Estate

Quantifiable outcome

• €5.5 billion in 2025 fundraising (28% YoY increase)
• +13 more outcomes

Named customers51 records

Segments7 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

Feature4 records

Partnerships

Twelve partnerships are on record, tiered flagship, major and minor.

• BNP ParibasflagshipStrategic or Co-development PartnerCo-partner in the Eurazeo China Acceleration Fund alongside China Investment Corporation. The fund invests in French and European companies with strong growth potential in China, providing cross-border strategic support.
• FerraramajorStrategic or Co-development PartnerConfectionery leader that completed the acquisition of CPK Group from Eurazeo in October 2025. The deal combined Carambar, Lutti, Krema, Poulain, Vichy, and Terry's brands with Ferrara's portfolio, bringing more than 850 employees and four French production sites. CPK continues as a standalone company led by CEO Marc Auclair.
• Carl Zeiss Meditec AGmajorStrategic or Co-development PartnerAcquirer of Eurazeo's majority stake in DORC (Dutch Ophthalmic Research Center), with the sale completed in April 2024. Carl Zeiss Meditec is a medical technology company.
• Inspired Pet NutritionmajorStrategic or Co-development PartnerAcquirer of Eurazeo's stake in Ultra Premium Direct (French pet food brand). Sale completed in October 2025.
• La Financière de BlacaillouxmajorStrategic or Co-development PartnerConsortium leader that completed the acquisition of Albingia (specialty insurance) from Eurazeo in May 2025.
• European Union (InvestEU Programme)flagshipStrategic or Co-development PartnerThe Eurazeo Transition Infrastructure Fund is supported by the European Union through both the EIF and the InvestEU fund, which aims to stimulate strategic investments in SMEs and Mid-Caps across Europe with a particular focus on Sustainable Infrastructure.
• JCDecaux Holding SASflagshipStrategic or Co-development PartnerLong-term institutional shareholder of Eurazeo, represented on the Supervisory Board by Emmanuel Russel (Member, Chairman of the CSR Committee). Part of Eurazeo's institutional and family shareholding base.
• Michel David-Weill Family, Solages Family, Richardson Family, Guyot FamilyflagshipStrategic or Co-development PartnerFounding family shareholders of Eurazeo forming part of the institutional and family shareholding structure that ensures Eurazeo's long-term viability and stable ownership.
• UpteviaflagshipChannel Partner/ Reseller/ DistributorUptevia is Eurazeo's agent for shareholder services, including registered share services, voting at Shareholders' Meetings, and conversion of shares. Provides dedicated phone line for Eurazeo shareholders. Headquartered at 90-110 Esplanade du General de Gaulle, Paris La Défense.
• Ethical AI Governance Group (EAIGG)minorGTM or Marketing PartnerCo-host with BGV, Forgepoint Capital, and White & Case of the 2026 Human AI Co-Innovation Summit in Paris (February 16, 2026) as part of the transatlantic Human AI Co-Innovation Consortium.
• BGV, Forgepoint Capital, White & CaseminorGTM or Marketing PartnerCo-hosts with Eurazeo and EAIGG of the 2026 Human AI Co-Innovation Summit in Paris, part of the transatlantic Human AI Co-Innovation Consortium aimed at accelerating human-centric AI deployments.
• imec.xpandmajorStrategic or Co-development PartnerCo-investor with Eurazeo in Vertical Compute (€57 million seed round), a spin-off from imec research center developing vertical memory integration technology.

Scale indicators25 records

Recent moves12 records

Expansion highlights7 records

Direct peers

• EQT AB: Swedish-listed private equity and venture firm with ~€245B AUM across PE, growth, venture, infrastructure and private debt. Most direct European competitor to Eurazeo across multiple strategies (Buyout, Growth, Venture, Real Assets), with similar multi-strategy model and European mid/large-cap focus.
• Partners Group: Swiss-listed private markets manager (~$150B+ AUM) with PE, private debt, real estate and infrastructure strategies serving institutional and private wealth clients globally. Highly comparable multi-strategy platform, listed structure, and Wealth Solutions distribution model.
• Bridgepoint Group: Listed European mid-market private equity specialist (~€40B AUM) focused on mid-cap companies across Europe and adjacent regions. Directly comparable in mid-market Buyout strategy and European mid-market focus, with smaller scale than Eurazeo but similar investment ticket sizes.
• 3i Group: Listed UK-based private equity and venture firm (€25B+ AUM) with PE buyout and infrastructure strategies focused on European mid-market and growth assets. Comparable in scale, listed structure, and European buyout mandate with similar investor base.
• Intermediate Capital Group (ICG): Listed UK-based alternative asset manager (~$80B+ AUM) with leading European private credit and private equity secondaries platforms. Strong overlap with Eurazeo's Private Debt and Secondaries & Mandates strategies, listed on London Stock Exchange.
• Wendel: Listed French investment company focused on long-term equity investments in European mid/large-cap companies. French peer with similar mid-market European industrial focus and listed investment company structure, though smaller scale than Eurazeo.
• Tikehau Capital: Listed French alternative asset manager (~€45B AUM) with private debt, private equity, real estate and capital markets strategies. Direct European peer with significant overlap in private debt/direct lending and PE strategies, both Paris-listed and similarly diversified.
• Hamilton Lane: Listed US-based private markets investment manager specializing in private equity, private credit, and secondaries solutions for institutional and private wealth clients. Closest comparable to Eurazeo's Private Funds Group (Secondaries & Mandates) business, with similar listed structure and bespoke mandate solutions.

Broad incumbents

• CVC Capital Partners: Listed European private equity giant (€200B+ AUM) with global Buyout, Growth, Credit, and Secondaries strategies. Much larger than Eurazeo but competes directly in European buyout fundraising, mid/large-cap deals, and global institutional LP relationships.
• Blackstone Inc. Largest global alternative asset manager (~$1.1T AUM) spanning PE, real estate, credit, and hedge funds. Competes with Eurazeo for global LP capital allocation and increasingly in European mid-market through its growth and tactical opportunities funds; represents the upper bound of Eurazeo's competitive set.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat7 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/eurazeo
• YouTubeyoutube.com/@eurazeo
• Facebookfacebook.com/Un-photographe-pour-Eurazeo-285782038196014
• LinkedInlinkedin.com/company/eurazeo

Revenue estimate

Valuation estimate

Number of profiles

Profiles38 records

Subsidiaries3 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A51 records

Investments357 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Eurazeo