Swedish private equity giant
This is the second China fund raised by Stockholm-based EQT, known best for its deals in Denmark, Finland, Germany and Sweden. The $322 million ICP-Asia, launched in 1999, owns cosmetics firm Global Beauty, according to EQT’s Web site.
EQT has raised ten funds in all, including this latest China fund, a mezzanine fund, and a special situations fund. Its largest fund is
London and New York-based MVision served as placement agent on the China fund. An EQT spokesman deferred comment to the Hong Kong office, which did not return a call.—M.C.