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Laxman Pai, Opalesque Asia: Swedish global investment organization EQT AB has closed its latest fund with €15.6 billion ($18.78 billion) of fee-generating assets, making it among the largest private equity funds ever raised by a European manager.
EQT IX, which is also the firm's largest so far, has hugely surpassed its predecessor, closed in 2018 at €10.75bn. The firm originally aimed to raise €14.75 billion for the new buyout fund.
The strategy attracted investors across Europe, the Nordics, Asia, North America, and the Middle East, representing pension funds, sovereign wealth funds, asset managers, and high-net-worth individuals. Around 70% of them were existing investors.
Per Franzén, Partner and Co-Head of EQT Private Equity said: "The successful fundraising of EQT IX was materially concluded in September 2020 and it has now reached its final closing. We have had strong support from a truly global investor base and are both humble and proud to continue to earn investors' trust. Our bold ambition of future-proofing companies around the globe and making a positive impact while generating outstanding returns stays firm."
The fund, which is 40%-45% invested at the moment, targets sectors within "megatrends and themes that have been accelerated during the pandemic", the firm said. This includes telecommunications, media and technology, and services, as well as industrial technology.
"EQT IX will continue the investment strategy of ...................... To view our full article Click here
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