Stockholm-based venture capital firm EQT announces the conclusion of EQT X fundraising, securing a total of €22B in commitments, surpassing the €20B target. €21.7B of this amount constitutes fee-generating assets under management.
According to EQT, the fund sets a new record as one of the largest private equity funds ever raised, marking a nearly 40 per cent increase from EQT IX’s closing at €15.6B in April 2021.
Investors supporting EQT
EQT X received funds from a diverse investor base, including pension funds, sovereign wealth funds, asset managers, and the private wealth segment. This commitment from private wealth follows EQT’s strategic push through the launch of EQT Nexus.
Investors are distributed across the Americas, Asia-Pacific, the Middle East, Europe, and the Nordics.
Suzanne Donohoe, Chief Commercial Officer at EQT, says, “We would like to thank both our long-term and new clients for their support of EQT X. Around 70 per cent of the commitments to the fund came from existing EQT IX investors, a testament to the long-term trust we have built together.”
“We’re also grateful for the support from new clients, who recognized our 30-year track record of delivering strong and steady returns. We look forward to continuing to strengthen our partnerships for the next 30 years and beyond.”
EQT X: Everything you need to know
EQT X is the latest addition to the EQT Private Equity strategy, which, over the past three decades, has focused on investing in Healthcare, Technology, Tech-enabled Services, and Industrial Technology sectors in Europe and North America.
The strategy has delivered a realised gross multiple on invested capital of 2.7x. Since June 2022, the Fund has announced seven investments, starting with the acquisition of Envirotainer, a player in mission-critical transport services for the biopharma industry.
Other investments include Zeus, a supplier of advanced medical components, Billtrust, a player in accounts receivable automation, and Dechra Pharmaceuticals, specialising in animal pharmaceuticals.
Currently, EQT X is 30-35 per cent invested, considering closed and/or signed investments, announced public offers, and accounting for any expected syndication, all based on the current fund size.
Per Franzén, Head of Private Capital Europe & North America at EQT and Chairman of the EQT Private Equity Investment Committees, says, “We remain focused on backing and futureproofing companies in attractive and resilient sectors, such as healthcare and technology, and have proven our ability to perform and return capital across cycles.”
“We continue to invest in our sector expertise, sharpening our ownership model and developing our value-creation toolbox. Our thematic investment strategy and strong local presence are competitive advantages when sourcing opportunities, not least in a slower deal-making environment.”
“EQT X is off to a strong start, having already announced four take-privates while offering substantial co-invest opportunities. We look forward to continuing to partner with our clients.”
EQT Private Equity, one of EQT’s business lines, comprises over 130 investment professionals across 15 offices in Europe and North America. The firm provides portfolio companies with hands-on support, long-term perspectives, and expertise in AI, digitalisation, and sustainability.
Collaborating with a network of over 600 Industrial Advisors, EQT Private Equity works with other EQT private capital business lines, including EQT Private Capital Asia, EQT Future, EQT Healthcare Growth, EQT Growth, and EQT Ventures.
Read the orginal article: https://siliconcanals.com/news/eqt-closes-10th-fund-at-22b/
