By Dominic Chopping 
 

STOCKHOLM--Swedish private-equity firm EQT AB on Wednesday said it invested 6.0 billion euros ($7.08 billion) during the third quarter of 2020, with assets under management rising 16% from the end of the previous quarter.

EQT said assets under management rose to EUR46.5 billion at the end of September from EUR40.1 billion at the end of June. Total gross fund exits in the quarter amounted to EUR1.9 billion.

"The portfolio value creation agenda is on track, but market uncertainties related to the pandemic remain," Chief Executive Christian Sinding said.

"Even though only a few of the portfolio companies operate in the hardest-hit sectors, a second wave and a prolonged pandemic may have a negative impact across the portfolio. Looking ahead, a number of strong EQT fund portfolio companies are being prepared for exits, should market conditions remain supportive," Mr. Sinding said.

The company said that with numerous growth opportunities and the launch of new strategies, it sees the need to accelerate investments in people and its platform into 2021.

EQT's EUR46.5 billion of assets under management are spread across 20 active funds within three business segments: Private Capital, Real Assets and Credit.

 

Write to Dominic Chopping at dominic.chopping@wsj.com

 

(END) Dow Jones Newswires

October 21, 2020 03:56 ET (07:56 GMT)

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