EQT‘s flagship private equity fund, EQT X, has successfully closed with a record-breaking EUR22 billion (USD24 billion) in total commitments.
This fundraise not only surpasses the initial target of EUR20 billion (USD 21.6 billion) but also marks a significant nearly 40 percent growth from its predecessor, EQT IX, which concluded at EUR 15.6 billion in April 2021.
This makes EQT X one of the most substantial private equity funds ever established.
The fund, celebrating the 30th anniversary of EQT Private Equity’s investment strategy, drew in a diverse group of investors, ranging from pension and sovereign wealth funds to asset managers and notably, a larger proportion from the private wealth sector.
This increased participation from private investors follows EQT’s strategic efforts to enhance their access to EQT funds through the introduction of EQT Nexus.
The investor base spans the Americas, Asia-Pacific, the Middle East, Europe, and the Nordics, highlighting the global appeal and confidence in EQT’s investment approach.
EQT X, which is already 30-35 percent invested, focuses on sectors where EQT has historically excelled—Healthcare, Technology, Tech-enabled Services, and Industrial Technology—in both Europe and North America.
With a track record of delivering a realized gross multiple on invested capital of 2.7x, the fund has already announced seven strategic investments since June 2022, including significant acquisitions such as Envirotainer, Zeus, Billtrust, and Dechra Pharmaceuticals.
Per Franzén, Head of Private Capital Europe & North America at EQT and Chairman of the EQT Private Equity Investment Committees, emphasized the fund’s commitment to backing companies in resilient and attractive sectors.
He highlighted EQT’s ability to generate returns and return capital across various market cycles, thanks to their sector expertise, thematic investment strategy, and competitive advantage in sourcing opportunities.
Suzanne Donohoe, Chief Commercial Officer at EQT, expressed gratitude towards both long-term and new clients for their support of EQT X, noting that around 70 percent of the fund’s commitments came from existing investors from EQT IX.
This enduring support underscores the trust and successful partnership built over the years, with EQT looking forward to continuing these relationships into the future.
EQT Private Equity, one of EQT’s eleven business lines, boasts over 130 investment professionals across 15 offices in Europe and North America.
The team is dedicated to driving growth, profitability, and resilience in their portfolio companies through active ownership, leveraging expertise in AI, digitalization, and sustainability, and drawing upon the experience of over 600 Industrial Advisors.
This approach ensures that EQT Private Equity not only meets but exceeds investment goals, setting a strong foundation for future endeavors. – PEVCJournal.com