Eurazeo (RF) AGM 2026 summary

Opening remarks and agenda

• The meeting welcomed shareholders, supervisory board, and management, outlining the agenda to review results, ambitions, and resolutions, with a focus on transparency and engagement with stakeholders.

• All formalities for convening the AGM were completed in accordance with regulations, and digital access to documents was provided to support CSR policy.

Financial performance review

• Asset management achieved double-digit growth, with assets under management reaching EUR 39 billion, up 8% year-on-year, and third-party assets up 15%.

• Divestments increased by 40% despite challenging market conditions, but value creation in the portfolio was negative for 2024 and 2025.

• Recurring income from fee-related earnings rose to EUR 156 million, with EBITDA for asset management up 12% to EUR 206 million.

• Share buybacks totaled EUR 600 million since launch, with a target to buy back 25% of shares over four years.

• Dividend increased by 10% to EUR 2.92 per share, with a loyalty premium for long-term shareholders.

Strategic initiatives and plans

• The group is focused on building a private asset management platform for European mid-market caps, optimizing performance, and reducing balance sheet size.

• Fundraising reached a record EUR 5.5 billion in 2025, with strong growth in both private equity and private debt.

• Expansion of the institutional client base, especially internationally, with 71% of institutional flows from outside France.

• Continued investment in environmental and health solutions, with EUR 6.1 billion dedicated to impact strategies.

• The group maintains a robust pipeline for 2026, including new funds in private debt, equity, and infrastructure.