EQT Partners Raises €1.6B For European Mid-Market Buyout Fund

May 30 2017 | 11:00pm ET

Swedish private equity company EQT has raised €1.6 billion in capital commitments for its latest fund aimed at mid-market companies in Europe. 

The new fund, named the EQT Mid Market Europe fund, was oversubscribed and closed at its hard cap, the company said. It fund targets high-quality mid-market companies in Northern Europe with strong market positions and growth potential. The fund will seek to make investments in companies with an enterprise value between €100 million and €300 million, EQT added, and has already closed on four. 

“We believe Northern Europe is one of the most attractive regions for private equity investments,” said says Jannik Kruse Petersen, partner and head of Mid Market Europe at EQT Partners, the investment advisor to the new fund. “The fund fortifies EQT’s position as a mid-market investor and will offer high-quality mid-sized companies the opportunity to develop into stronger and more sustainable businesses.” 

Approximately 80% of the commitments were made by investors in prior EQT funds, the company continued. Investors include BNP Paribas Fortis, Danica Pension, Danske Bank Wealth Management, DnB Private Equity, eQ Asset Management, GoldPoint Partners, HarbourVest Partners, Neuberger Berman Private Equity, SEB Asset Management, Teachers' Retirement System of the State of Illinois and UBS Asset Management.

EQT raised $726 million for its first U.S.-focused mid-market fund in October 2016.

Stockholm-based EQT Partners is a global private equity group with approximately €36 billion in raised capital from more than 400 global professional investors across 23 funds. The company has invested more than €22 billion in portfolio companies across the world across private capital, real asset and credit strategies.

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