EQT V closes at €4.25bn

EQT V has commitments from both existing and new investors including institutional investors, family offices and endowments from around the world. Of the capital raised in EQT V, approximately 25% was committed from the Nordic region, 30% from the UK and Continental Europe, 25% from North America, and the remaining from the rest of the world. Significantly, EQT secured important new commitments from Australia, Canada and Japan. In addition, Investor AB – the largest industrial holding company in the Nordic region – is committing €500m to the fund.

EQT V will execute the same industrial acceleration strategy successfully deployed in prior EQT funds, making controlling investments in high-quality, market-leading, medium-sized companies in growing industries in Northern Europe.

The fund will seek to invest in companies where EQT, in partnership with management, can create a specific industrial angle and deploy its unique industrial know-how and network of senior industrialists, to accelerate growth, and create value. In total the PE house has invested in about 50 companies.

Conni Jonsson, managing partner of EQT, said: “We are very pleased with the long-term relationships we have built with investors in the EQT funds and the loyal investor base that chose to continue to partner with EQT. We are also grateful for the significant vote of confidence from new investors from all regions of the world. With the new fund EQT is well equipped to continue to play a leading and unique industrial role in the Northern European private equity market”.

MVision Private Equity Advisers acted as global placement agent and Clifford Chance was legal counsel to EQT V.

The Nordic investor has also closed its second Chinese fund on €420m. The EQT Greater China II fund is focussed primarily on mid-market buyout and control investments based in or connected with China, Hong Kong and Taiwan. Its LPs are a broad range of global institutional investors, family offices and endowments from the US and Europe. Investor AB, the Swedish investment company and part owned of EQT, has committed at least €154m to the fund.

Winnie Fok, Chief Executive of EQT Partners Asia, said “We are extremely happy to have gained support from such strong and seasoned investors. With well-developed relationships in Greater China, and an extensive international network of industrial partners and advisors, we are well-positioned to deliver on-going success in this dynamic region.”

This latest vehicle follows on from Investor Capital Partners – Asia Fund, which closed in 2000. Its strategy was to focus on mid-market companies, taking controlling stakes; the new fund will follow the same path.

It will invest in companies where EQT, in partnership with management, can create a specific industrial angle and deploy its unique industrial know-how and network of senior industrialists, to accelerate growth, and create value. The fund will focus on the fast growing sectors of branded consumer products and services, retail & distribution, pharmaceuticals and manufacturing.

Conni Jonsson, managing partner of EQT, said: “We are grateful for the significant vote of confidence in EQT. With the new fund EQT is well equipped to play a role with our industrial approach to Private Equity not only in the Northern European private equity market but also in Greater China”.

As with EQT V, MVision Private Equity Advisers acted as the placement agent on the Greater China II fund, with Clifford Chance as legal counsel.