EQT Assets Under Management Rose 16% During 3Q
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
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 firstname.lastname@example.org
(END) Dow Jones Newswires
October 21, 2020 03:56 ET (07:56 GMT)
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