Ely Place acts for Eurazeo on €108.8 million credit secondary

Ely Place
22 December 2021

Ely Place acted as exclusive adviser to Eurazeo

Ely Place Partners Limited (“Ely Place”) is pleased to announce that it acted as exclusive adviser to Eurazeo on a €108.8 million credit secondary, involving the establishment of a fund continuation vehicle and the provision of liquidity for investors across three funds. The transaction follows the recent closing of Eurazeo’s latest direct lending fund, the €1.5 billion Idinvest Private Debt V, where Ely Place secured a €100 million single investor commitment for its repeat client.

The credit secondary was run as a competitive auction involving potential bidders across traditional LPs, funds of funds and private debt secondary buyers. Ely Place ran a detailed analysis and process in a two staged process. Pantheon, a global private markets investor with a $4bn private debt platform and a specialized focus on credit secondaries, led the successful investor syndicate, which also featured Pennington Partners and Oddo-BHF Private Equity.

Private debt secondaries, while representing a small portion of the total secondary market today, has been growing significantly over recent months with several institutions raising dedicated pools of capital.

François Lacoste, Managing Partner and Head of Private Debt at Eurazeo, said: “We are thrilled to announce this successful transaction, that delivered an optimal value to both existing and new investors. We are proud to be partnering with these leading institutions on this transaction”.

Daniel Roddick, Founder of Ely Place, said: “We are delighted to have assisted Eurazeo with this transaction. Working across both primary fundraisings and complex secondary transactions has enabled us to provide focused and tailored solutions for GPs, and we are thrilled to be have delivered this result for our client”.

A link to additional recent press coverage can also be found here: News – Ely Place Partners

A link to the recent press coverage on Idinvest Private Debt V can be found here: Ely Place Ely Place secures €100m single investor commitment on the final closing of Idinvest Private Debt V – Ely Place Partners.

For press inquiries, please contact daniel@ely.place.