Eurazeo Paris Ord (EUZOF) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to the Eurazeo Q1 2026 Trading Update presentation. Today's conference will be hosted by William Kadu-Shasong, co-CEO. For the first part of the conference, the participants will be on listen-only mode. During the questions and answers session, you may ask in two ways, by submitting a written question in the box below the player or by joining the conference call and dial pound key 5 on your telephone keypad to enter the queue. Now I will hand the conference over to the speaker. Please go ahead. Thank you. Good morning and thanks to all for joining this call. I am pleased to welcome you all to our Q1 2026 trading update. And as usual, let me walk through the key highlights for the quarter pertaining to first, fundraising, AUM and management fees, second, asset rotation, and third, the underlying performance of the on-balance sheet portfolio. be available to take questions. Let's start with our fundraising activity. We had a strong quarter in Q1, 2026 with 1.1 billion euros raised during the period, an increase of 11% versus last year. This performance was driven by first, strong inflows in private debt. It's more than 850 million raised in Q1. nearly twice as much as Q1 2025. This strong performance comes from the back of the top quarter track record of our direct lending funds and our leading position in the mid-market category. Second, a continued momentum in the secondary strategy, which makes up for the majority of the 200 million euros raised in equity during Q1. Our wealth solutions channel continues to grow nicely with AUM up 16% per annum to reach 5.7 billion euros. Inflows were similar in Q1, 2026, as in the same period last year. Our Evergreen Fund, EPVE3, enjoys positive net inflows with redemptions in Q1 well below 1%, and in line with historical a...