Eurazeo raised EUR 2.3 billion in the first half of 2026, a 10 per cent year-on-year increase, as the French private markets firm cited "ongoing strong momentum" in its private debt business. Total assets under management rose 9 per cent over 12 months to reach EUR 40 billion at the end of June.

Private debt was the standout performer, raising EUR 1.5 billion in the six months to 30 June — a 73 per cent increase year on year driven primarily by Eurazeo's direct lending strategy. The firm's flagship Eurazeo Private Debt VII exceeded its initial EUR 3 billion target during the period to close at EUR 3.9 billion, bringing the seventh programme's total size to EUR 5.5 billion, including nearly EUR 1 billion from retail clients alongside institutional commitments.

Fee-paying AUM rose 6 per cent to EUR 29.4 billion, with third-party fee-paying AUM climbing 13 per cent. Third-party AUM, encompassing limited partners and retail clients, grew 13 per cent to EUR 31.1 billion, underscoring the firm's strategic pivot toward external capital management.

Deployment activity remained brisk across the platform, with group-wide deployments totalling EUR 1.9 billion in the first half. Private debt deployments were "particularly active," rising 7 per cent to EUR 1.2 billion — a pace Eurazeo described as "in line with the strong pace of fundraising." Realisations reached EUR 700 million across the group, with private debt contributing EUR 300 million.

Eurazeo ended the first half with total dry powder of EUR 6.6 billion, a 20 per cent increase over 12 months, providing substantial capacity for continued deployment across its credit strategies.

The results reflect a broader trend among European private debt managers benefiting from sustained institutional demand. Eurazeo's ability to scale its direct lending franchise while maintaining deployment discipline positions it among the continent's most active credit platforms, at a time when competition for deal flow continues to intensify.

"This new semester of growth in asset management, combined with the return to positive value creation in our balance sheet portfolio, confirms the successful execution of our strategic plan," said co-chief executives Christophe Bavière and William Kadouch-Chassaing. They noted that the "profitability of our asset management business continues to improve, with double-digit growth in its EBITDA."

Eurazeo also announced shareholder returns of approximately EUR 320 million for 2026, following a 10 per cent increase in ordinary dividend per share. The firm has bought back approximately 2 per cent of its share capital for around EUR 58 million in the first half, with a programme covering roughly 4 per cent of total share capital for the full year at an estimated cost of EUR 120 million.