EQT, the Northern European private equity group, has during the summer had a final closing of EQT IV (the “Fund”) at EUR 2.5 billion (approximately USD 3.0 billion), exceeding its original EUR 2.0 billion target in just six months after the launch of the fundraising in January 2004. Notwithstanding strong support from existing and new investors, EQT had decided from the outset to hard cap the Fund at EUR 2.5 billion.
EQT IV’s commitments are comprised of EQT's existing investors, new high quality global institutional investors, as well as Investor AB's (the sponsor of the Fund) commitment of approximately EUR 500 million. Of the capital raised in EQT IV, excluding the sponsor’s commitment, approximately 40% was committed from the Nordic region, 25% from the UK and Continental Europe, 25% from North America, and 10% from the rest of the world. By type of investor, excluding the sponsor’s commitment, approximately 35% was committed by pension funds, 30% by insurance and other financial institutions, 20% by endowments, foundations and families, and 15% by fund of funds.
EQT IV has been established to execute the same strategy as adopted by EQT in prior funds, making controlling equity and equity-related investments in medium to large sized companies based in Northern Europe.
Conni Jonsson, Managing Partner of EQT Partners AB, said: “We are very pleased with the strong support from both existing and new high quality investors in Europe, US and Asia. EQT IV will continue the same disciplined strategy deployed by EQT for 10 years – investing in high-quality and leading businesses in attractive industries, where EQT can be an active, hands-on owner to accelerate the industrial development of the portfolio companies from local or niche leaders into global or sector champions."
MVision Private Equity Advisers acted as global placing agent and Clifford Chance was legal counsel to EQT IV.
This press release is not an offer of securities for sale in the United States and interests in the Fund may not be offered or sold in the United States absent an exemption from legislation.
Andreas Tallberg, Partner
+358 9 69 62 4711, email@example.com