Eres IV will invest as a majority or minority shareholder in medium-sized European and American companies.
Final milestone for Eres IV. Two years after a first closing at €300m, the fourth vintage of Edmond de Rothschild Private Equity — managed by Elyan Partners, its exclusive financial advisor — has closed its fundraising at €512m. It has therefore exceeded both its target of €450m and the €300m raised by its predecessor, ERES III.
This strong investor appetite is explained by the fund manager’s traditional positioning.
Jean-François Félix, Managing Partner at Elyan, says:
“We benefit from a very strong track record, combining attractive returns with more measured risk,” “Our transactions use half as much leverage as the market average, and we aim for performance between 15% and 18%.”
Company Valuations Between €75m and €2bn
In terms of strategy, the fourth vehicle remains aligned with the fundamentals of Eres III. The fund seeks to invest in primary transactions in the European and North American mid-cap segment, focusing on biotech services, service digitalisation, and new consumption patterns.
“We are traditionally a minority investor, but we are also comfortable with majority deals,” adds Jean-François Félix.
Target companies will have revenues between €75m and €2bn. The fund has already begun deploying capital, having completed four acquisitions. In addition to its US investments — Envoy Global, Freightwise, and Hungerrush — Eres IV has notably contributed to the spin-off of Oncodesign’s CRO division. The sponsor secured a 61.58% stake in Oncodesign Services, valued at nearly €100m in total.
Over a five-year horizon, the fund aims to hold around 15 portfolio companies, of which 60% are expected to be European. A fifth investment in Germany is currently being finalized, with closing planned during the second quarter.
To support this scaling-up, Elyan Partners has added five new team members, bringing its headcount to 12, and plans to continue expanding its team in the coming months.