EQT Invested EUR7.7 Billion in 3Q, Assets Under Management Up 51%
By Dominic Chopping
STOCKHOLM--Swedish private-equity firm EQT AB said Wednesday
that its funds invested 7.7 billion euros ($8.96 billion) during
the third quarer, with assets under management rising 51% on the
EQT said assets under management rose to EUR70.3 billion at the
end of September from EUR46.5 billion at the end of September 2020.
Total gross fund exits in the quarter amounted to EUR4.9
The company also announced the launch of EQT Future fund,
targeting longer-hold investments in mature companies with
market-shaping impact potential.
Former Unilever PLC Chief Executive Paul Polman and Investor AB
Chairperson Jacob Wallenberg will co-chair the EQT Future Mission
board, it added.
The EQT Future fund will have a target size of EUR4 billion.
"Soon, we will complement this with a longer-hold fund focused
on infrastructure," EQT Chief Executive Christian Sinding said.
In terms of EQT's fundraising efforts, the company said it
continues its good momentum, but it is also experiencing strong
competition for high-quality assets.
"However, EQT has an attractive investment pipeline covering all
strategies and geographies and a solid platform for continued and
sustainable growth," Mr. Sinding said.
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
October 20, 2021 02:11 ET (06:11 GMT)
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