- French-listed investment firm to open New York office in July
- Decision follows previous office openings in China, Brazil
Eurazeo SA, a French-listed investment firm, is planning to expand into North American buyouts with a new office opening in July, said people familiar with the matter.
The company, which owns stakes in rental group Europcar Groupe SA and fashion label Desigual SL, is set to open an office in New York City, said the people who asked not to be identified because the information is private. The seven-strong team will be headed by Virginie Morgon, deputy chief executive officer, who will divide her time between Paris and New York, the people said.
Eurazeo has previously opened offices in Brazil and China with the aim of adding to its existing portfolio companies in those markets. The North American operation will serve the same function but will also target new investments, with a typical equity investment of between $200 million and $500 million per deal, the people said.
The company, which was formed through the merger of Azeo and Eurafrance in 2001, makes venture and mid-market investments through its PME and Croissance platforms, in addition to buyouts, and typically holds companies for between five and seven years, according to its website.
A spokesman for Eurazeo declined to comment.