Will release financial details when deal completed (Il Sole 24 Ore Radiocor) - Paris, 22 Apr - The French investment company Eurazeo said that it has signed an agreement to invest in Eres Group and acquire a majority stake from the IK VIII Fund managed by IK Partners.

Completion of the transaction is subject to obtaining relevant regulatory approvals, it said, adding that the definitive financial information will be disclosed once the transaction has been completed.

Established in 2005, Eres is the leading French independent player in the advisory and structuring, asset management and distribution of employee profit sharing plans (PEE, PERECO), retirement schemes (PER) and employee shareholding plans.

Headquartered in Paris, Eres distributes its products through a network of more than 6,600 distributors (wealth management advisors, insurance brokers, accountants) and addresses directly mid-sized companies and large groups, it added.

In the period from 2018 to 2023, Eurazeo's assets under management have increased from 2.4 billion euros to 6.7 billion. The investment from Eurazeo is expected to enable Eres to further consolidate its leading position in a growing market driven by structural tailwinds and further expand in adjacent markets.

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(RADIOCOR) 22-04-24 19:03:13 (0652) 5 NNNN