(AOF) – Eurazeo announced a fifth transaction, amounting to 22.5 million euros, for the Eurazeo Sustainable Maritime Infrastructure (ESMI) fund. This investment will finance the launch by Samskip Group of a first zero-emission container ship of the latest generation, intended for short-distance transport. The Samskip SeaShuttle is being built at the Cochin shipyard in India. Its delivery is scheduled for the second half of 2025.
It will be among the first and largest ships in existence with a hydrogen propulsion system.
“This transaction brings us closer to our objective of investing nearly 50% of our first ESMI fund before the end of 2023. We hope to continue this dynamic in 2024, and are considering the preparation of a second generation of this fund,” said Sylvain Makaya, Partner – Asset-based, and Guillaume Branco, Investment Director – Asset-based.
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Key points
– Investment company created in 2001 with 530 portfolio companies;
– 34.1 billion assets under management, including 70% on behalf of third parties: 71% in private equity, 20% in private debt then in real estate;
– Business model:
– 4 strong points: equity guaranteeing the independence of the group, a strong presence in 10 countries and 4 continents, strong and long-standing commitment to CSR,
– 2 priorities: becoming the benchmark investment platform in Europe, each division being number 1 in its market, and continuing the fundraising dynamic,
– 2 complementary growth challenges: asset management for predictable and recurring income and investment in companies not exposed to cycles or with high growth potential;
-Capital structured by pacts between JCDecaux holding (17.86%), the Michel David-Weill family (16.71%) and the Richardson family (3.55%), Jean-Charles Decaux chairing the supervisory board of 15 members , Christophe Bavière and William Kadouch-Chassaing co-chairing the 4-member executive board, completely renewed in February;
– Solid balance sheet free of debt with cash of +€1.1 billion.
Challenges
– Medium-term strategy aimed at doubling assets under management to €60 billion in 2026-2028 and a margin of 35-40% compared to 30% in 2021;
– Innovation strategy managed by a digital committee within the supervisory board in charge of accelerating the integration of digital into operational activities, analyzing the digital environment and assessing cyber risk;
– “O +” environmental strategy validated by the SBTi, applicable to the 350 portfolio companies and aiming for net zero emissions in 2040:
– focus on biodiversity,
– 90% of active funds eligible for the European taxonomy and launch of impact funds,
– 20% of managed funds dedicated to the low carbon economy,
– €4.3 billion invested in climate and inclusion across all strategies;
–
S
electivity in investments: at 1
er
quarter, €0.3 billion invested, €0.9 billion deployed with €7.8 billion of financial room for maneuver;
– Balanced portfolio, no company representing +10% of the NAV, the share of listed companies being limited to 6%: 44% in Mid Large Buyout, 23% in Growth, 11% in real estate, 9% in brands and 8% in small mid buyout.
Challenges
– Monitoring of the revalued net assets, of €127.1, to compare with the stock market price;
– Rotation of assets with investments, financed by fundraising from customers, in the amount of €3.2 billion and by disposals of €2.9 billion;
– Ambitious 2023 program in fundraising and penetration of individual customers;
– 2023 objective of strong profit growth;
-2022 dividend of €2.2, up 26% and action program of €100 million.