EQT Invested $9.07 Billion in 1st Half, Assets Under Management Nearly Doubled
By Dominic Chopping
STOCKHOLM--Swedish private-equity firm EQT AB said Thursday that
its funds invested 7.7 billion euros ($9.07 billion) during the
first half, with assets under management rising 95% on the
EQT said assets under management rose to EUR71.3 billion at the
end of June from EUR36.5 billion at the end of June 2020. Total
gross fund exits in the half amounted to EUR9.9 billion.
"In terms of deal activity, EQT continued to leverage favorable
market conditions, its thematic approach and strong investment
capacity," Chief Executive Christian Sinding said.
"As a result, we increased the investment activity, but we had
an even more notable rise in exits. Our fundraising efforts also
developed well," Mr. Sinding said.
EQT posted first-half revenue of EUR709 million, up from EUR264
million in the same period last year, as management fees doubled to
The rise in management fees was driven by its EQT IX and EQT
Infrastructure V funds, the company's combination with Exeter
Property Group, and an increase in carried interest and investment
income, it said.
Net profit rose to EUR361 million from EUR47 million.
EQT has 27 active funds within two business segments - private
capital and real assets.
Write to Dominic Chopping at email@example.com
(END) Dow Jones Newswires
July 22, 2021 01:46 ET (05:46 GMT)
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