EQT sets target fund size for EQT IX at EUR 14.75 billion
THIS IS INFORMATION THAT EQT AB (PUBL) IS OBLIGED TO MAKE PUBLIC PURSUANT TO THE EU MARKET ABUSE REGULATION. THE INFORMATION WAS SUBMITTED FOR PUBLICATION, THROUGH THE AGENCY OF THE CONTACT PERSON SET OUT BELOW AT 19.00 CET ON 14 JANUARY 2020.
EQT has today set the target size for the EQT IX fund at EUR 14.75 billion. The actual fund size is dependent on the outcome of the fundraising process and may ultimately be higher or lower than the target size. The EQT IX fund’s investment strategy and commercial terms are expected to be materially in line with predecessor fund EQT VIII.
To ensure continuity between two fund generations, EQT’s capital raisings usually follow a cycle with successor funds generally targeted to be in a position to commence investment activities when the predecessor fund is close to being fully invested. This means that the commitment period of the predecessor fund typically ends when approximately 80 to 90 percent of its total commitments are invested, with remaining commitments used primarily for add-on acquisitions and strategic capital injections as well as for ongoing expenses. Management fees for the successor fund will be charged from the earlier of (i) the date of closing of the first investment by the successor fund; or (ii) the date of termination of the commitment period of the predecessor fund. Management fees on the predecessor fund are thereafter based on net invested capital. For further information, please refer to the prospectus published on EQT’s website in connection with the listing on Nasdaq Stockholm, in particular the section entitled “Operating and financial review – Financial model”.
Contact
Åsa Riisberg, Partner & Head of Shareholder Relations, +46 8 506 55 342
Nina Nornholm, Head of Communications, +46 70 855 03 56
EQT Press Office, press@eqtpartners.com, +46 8 506 55 334
The information contained herein does not constitute an offer to sell, nor a solicitation of an offer to buy, any security, and may not be used or relied upon in connection with any offer or solicitation. Any offer or solicitation in respect of EQT IX will be made only through a confidential private placement memorandum and related documents which will be furnished to qualified investors on a confidential basis in accordance with applicable laws and regulations. The information contained herein is not for publication or distribution to persons in the United States of America. Any securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold without registration thereunder or pursuant to an available exemption therefrom. Any offering of securities to be made in the United States would have to be made by means of an offering document that would be obtainable from the issuer or its agents and would contain detailed information about the issuer of the securities and its management, as well as financial information. The securities may not be offered or sold in the United States absent registration or an exemption from registration.
About EQT
EQT is a differentiated global investment organization with a 25-year track-record of consistent investment performance across multiple geographies, sectors and strategies. With a strong brand and distinct corporate culture, EQT manages and advises funds and vehicles that invest across the world with the mission to generate attractive returns to the fund investors. EQT’s talent base and network allow it to pursue a unique value creation approach and thematic investment strategy, with the aim of future-proofing the companies which EQT invests in, creating superior returns and making a positive impact with everything EQT does.
EQT has more than EUR 62 billion in raised capital since inception, currently around EUR 41 billion in assets under management across 19 active funds within three business segments – Private Capital, Real Assets and Credit. EQT is a thought leader within the private markets industry with deep expertise in responsible and long-term ownership, corporate governance, operational excellence, digitalization and sustainability. EQT has offices in 15 countries across Europe, Asia Pacific and North America with more than 675 employees.
The EQT AB Group comprises EQT AB (publ) and its direct and indirect subsidiaries, which includes entities advising EQT funds as well as general partners and fund managers of EQT funds.
More info:www.eqtgroup.com
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