Paris-based private equity firm Eurazeo has sold its entire shareholding in the online marketplace company Farfetch.
This disposal resulted in net proceeds of €90.4m, corresponding to a multiple of 4.1x cash-on-cash and an internal rate of return (IRR) of around 38%. It is the second portfolio exit for Eurazeo Growth, after PeopleDoc in 2018.
Farfetch is a British-Portuguese online luxury fashion retail platform and with customers in 190 countries.
In a statement, Eurazeo said it had helped Farfetch develop its business among luxury goods brands and expand its geographic footprint in China and other countries since it invested in the firm in May 2016.
Eurazeo has €18.5bn in assets under management, including nearly €12.9bn from third parties, invested in over 430 companies.
Source: Private Equity News
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