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Laxman Pai, Opalesque Asia:

European investment major Eurazeo has closed its fourth secondaries program on €1bn ($1.18bn).

The capital raised includes €700m for Idinvest Secondary Fund IV, exceeding its initial target of €600m, and €300m of additional secondaries capital raised from private individuals, said a press release from the asset manager in private markets.

"This fourth secondary program received strong demand from institutional investors from around the world including sovereign wealth funds, pension funds, insurance companies, foundations, family offices, and individuals," it said.

Christophe Simon, Managing Partner and Head of Secondaries at Eurazeo, said: "We are very grateful for the support and trust of our investors in such unusual times and are proud to have exceeded our initial fund-raising target."

Christophe added: "We believe the growth of our secondary activity reflects the increasing client demand of our niche positioning in the European mid-market and our recognized expertise in arranging sophisticated GP-led transactions, and the benefits brought by the unique sourcing and execution capabilities of the Eurazeo platform."

Christophe Baviθre, Senior Managing Partner, Member of the Executive Board, said: "This fourth secondary program saw strong demand from investors and successfully closed above target despite the pandemic. This current secondary program is already 36% deployed into mature secondary transactions in the European......................

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