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Power Better Growth

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Power Better Growth To meet today’s major challenges, bu- sinesses must embrace change, grow, innovate, expand worldwide, and look beyond their core business. To support them, they need a robust, bold, visio- nary, exemplary and engaged partner. Eurazeo is that partner. From startups to SMEs, mid-caps and in- ternational groups, we identify, finance, accelerate and support companies that invent and reinvent themselves, innova- tive entrepreneurs, and emerging talent. Power Better We turn constraints into opportunities, Growth challenges into ways to create value, and bold ideas into real successes. We stand alongside creative innovators. We support senior managers and investors. We provide expert support at the right time. And we invest for the long term. COUNTRIES NATIONALITIES ASSET CLASSES Power Better With its 10 countries, 25 nationalities, a diversified offering that creates sustainable Growth value, and its firm belief in responsible growth, Eurazeo is the ideal pathway to capital and expertise for entrepreneurs, a trusted portal to the French and European markets for inter- national investors, and provides direct access to the real economy for individual investors. Championing meaningful growth is what we are all about. PARIS urazeo is a leading global investment group, with a Ediversified portfolio of over €20 billion in assets un- NEW YORK der management, including €15 billion managed on be- half of third parties, invested in some 450 companies. With our considerable private equity, real estate and private debt expertise, we support companies of all S Ã O PAULO sizes, helping them develop through the commitment and skills of our nearly 300 professionals, our in-depth sector expertise, the privileged access we provide to global markets, and our identity as a responsible and SEOUL sustainable investor. SHANGHAI PORTFOLIO SINGAPORE COMPANIES 3 LONDON Our institutional and family shareholder base, and in particular the long-standing support of the David-Weill and Decaux families, our solid financial position with no structural debt on the balance sheet, and our flexible investment horizon enable us to support LUXEMBOURG companies over the long term. To help our portfolio companies with their interna- tional expansion and to be as close as possible to FRANKFURT our investment partners, we have offices in Paris, New York, Berlin, Frankfurt, London, Luxembourg, Madrid, São Paulo, Seoul, Shanghai and Singapore. BERLIN The Group is listed on Euronext Paris. MADRID Power Better Growth Eurazeo focuses on three asset classes – Private Equity (which YEARS accounts for two- OF HISTORY thirds of our assets under management), Private Debt and Real Luxembourg Berlin Frankfurt Assets – to support and fund businesses. London Paris SLOVAKIA Madrid 4 Virginie Morgon, 5 New York Présidente du Directoire Seoul CUBA Shanghai With steady growth in both as- with their international expansion projects and As a listed investment company with a history give them access to our business network, but sets under management and going back more than 130 years, the Group has we can also forge close ties with international COLOMBIA Singapore portfolio value, strong fundrai- a long-standing presence in France, with a broad private investors in North America, Europe and sing momentum, and conti- footprint in Europe. We are also pursuing our Asia. nued asset rotation into promi- global ambitions, having expanded into North America and Asia in the last 10 years. Our third main distinguishing feature is that, São Paulo sing sectors, Eurazeo is moving among global players, we have an unusually forward on its growth trajectory large amount of our own money to invest, as focused on value creation for What makes you different in well as the funds we raise from third-party in- the industry? vestors. We use our balance sheet to support its shareholders and investors. the creation, development and acceleration of businesses that we believe to have major long- V.M. : We have a number of strengths, such as How would you describe term potential. Our balance sheet also ensures the exceptional quality of our people, our digital that the interests of Eurazeo, our shareholders Eurazeo today? expertise, and our exemplary governance. But and our private investors are perfectly aligned, I would highlight four things that set us apart. since we invest in all of the funds we manage. Virginie Morgon : With over €20 billion in assets under management invested on our own behalf Firstly, diversification. We are one of very few The final competitive advantage I would men- NEARLY and on behalf of institutional investors, Eurazeo firms in the sector having put in place dedi- tion, and an important one at that, is our status is one of the most diversified investment and cated teams with expertise in all phases of a as an innovative leader in terms of social and asset management groups, and we apply our company’s development – startups, unicorns, environmental responsibility. We started down expertise in all promising sectors. SMEs, mid-caps, multinationals – as well as in COUNTRIES that path 20 years ago, before the rest of our real estate. We can offer all types of funding industry, and we are still out in front today. EMPLOYEES NATIONALITIES With 450 portfolio companies in which we have solutions: equity, quasi-equity and private debt. invested or to which we have provided funding, we contribute to development, responsible Secondly, our international presence. We have growth, and job creation in all geographies in local teams in 10 countries across four conti- Offices dedicated to investment Offices dedicated to development which we operate. nents. Not only can we support our companies Power Better Growth Power Better Growth In the current circumstances, Which three features sum up how do you identify attractive Power Better Growth means anticipating Eurazeo’s investment investment areas? What types and activating the right levers at the right activities today? of companies are you looking at? times to create value for all. V.M. : Dynamic capabilities, tech and value crea- V.M. : Today’s markets are even more pola- tion! We continue to strengthen our position rized than before. At Eurazeo, we anticipated as a major player in the tech sector. In 2020, Power Better Growth is about identifying, this trend several years ago, when we began almost 50% of our private equity investments targeting and investing in promising shifting our investment strategy towards the were in this sector. Our expertise in selecting, sectors and companies best positioned to meet sectors to create a more circular and targeting and completing investments has made tomorrow’s challenges. sustainable future. us one of the leading providers of funding to European tech players. Tech represents almost Naturally, technology companies form part two-thirds of our assets under management, of that. Overall, we have invested €5 billion in Power Better Growth means mobilizing and we support more than half of the French In 2021, 220 tech companies, and the sector currently resources and energies to help meet the tech companies included in the Next40 index. accounts for almost 40% of the opportunities significant challenges of our time. we are studying. The Covid-19 crisis has given We made the strategic decision to take greater we will a further boost to e-commerce, the adoption advantage of value creation opportunities via of digital tools by consumers, the internet of an asset divestment program, which will be THREE WORDS THAT FUEL OUR ACTIONS things, robotics, software development, and accelerated in 2021 and 2022. FOR MEANINGFUL GROWTH continue electronic payments. 6 7 The same has happened in health care, with fas- Will the market continue to invest ter progress in the fields of biotech, diagnostics, to be as buoyant as it used onshoring of production, accelerated digitization of processes through remote medicine, and to be? ted such ambitious targets. The O+ program to come. We expect that our continued growth in clinical trials. This has created a number of ESG and sustainability issues establishes some very practical objectives, such trajectory will allow us to double our assets new opportunities for an experienced group V.M. : The private equity market has shown are increasingly front and as making further improvements in terms of under management in the next five to seven like ours, which has invested €1.2 billion in 50 its ability to navigate a volatile and complex center around the world, and gender balance and inclusion, and sharing a years, driven by ongoing growth across all our promising companies in the last 15 years. And it is also environment. The market still has good mo- greater proportion of the value we create. We divisions, a buoyant market, and our proven why Caisse des Dépôts and a group of French Eurazeo recently unveiled mentum today. have also made a commitment that is unique ability to raise funds. insurers selected Eurazeo, from a field of around its new strategy in this area. sectors. in our industry: we are aiming to cut net carbon 15 competitors, to manage a fund worth almost There is strong demand for capital among com- What does it involve and why emissions across the entire Group to zero by We have broadened the scope of our invest- €420 million dedicated to developing a hub of panies of all types and all sizes that want to grow. is this important for Eurazeo? 2040 through a very demanding protocol ap- ments, with the arrival of a new team focusing excellence for the French health care sector. To meet this demand, we are seeing growing proved by the Science Based Targets initiative. on infrastructure to support the ecological tran- Our teams are also closely monitoring other inflows of capital from institutional investors V.M. : Eurazeo is reaping the rewards of the sition. We have also bolstered our position in promising sectors: financial services, asset looking for strong returns of the kind that the commitments we made to ESG over 20 years health care with our Nov Santé fund.
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