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06 Feb 2023
Virginie Morgon exits Eurazeo after 14 years
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Virginie Morgon exits Eurazeo after 14 years
Partnership between Eurazeo and Virginie Morgon, who was at the basis of the emergence of Eurazeo as a major PE player in Europe, will cease.Quite heavily discussed in the press.This does not influence the fact that the discount of Eurazeo remains elevated at ~50%. Operationally the business is sound and should provide significant upside once the M&A market reopensOur view: We believe this to be perceived as a negative by the market. Ms. Morgon has been with the firm for 14 years and as such became almost synonymous with Eurazeo. This also reinforces the fact that the Decaux family has