STOCKHOLM /PRNewswire/ --
EQT
today announces that
its seventh fund for private equity investments focused primarily
on Northern Europe, EQT VII, has been closed at the hard cap
of EUR
6.75 billion on July 31, 2015.
Interest from both existing and prospective investors was strong
and the fund was significantly oversubscribed. More than 70% of the
commitments to EQT VII were made by investors in prior EQT funds,
confirming the strength of being an integrated alternative
investment firm with a broad offering of investment strategies.
Despite the strong demand, EQT has remained committed to raising an
appropriately sized fund to be deployed in line with EQT VII's
objectives of delivering value to investors, by investing in
high-quality companies that develop into strong and sustainable
businesses under EQT's ownership. EQT's proven governance model
will be applied to investments, and the expertise of both the
Equity investment advisory team at EQT Partners and the business
and industry specialists from the EQT Industrial Network will be
utilized.
"We
are proud, yet humbled, by the positive reception and strong
support for EQT VII among both existing and new investors. It
confirms the trust investors have in EQT's industrial approach and
strategy of investing in the development of healthy, future-proof
businesses in a responsible manner. The fundraise fortifies EQT's
position as a leading integrated alternative investment firm and is
also an important milestone in EQT's long-term growth strategy,"
says Thomas von Koch, Managing Partner at EQT Partners.
Christian Sinding, Head of Equity at EQT Partners,
Investment Advisor to EQT VII, continues: "EQT's growth-oriented
approach of investing in high-quality businesses has since
inception generated impressive annual growth across the companies
within the Equity investment strategy. I believe continued use of
the more than 20 years of experience EQT has investing in the
support and development of companies, through various business
cycles, will continue to generate strong and sustainable value for
both EQT's portfolio companies and investors."
EQT
VII is backed by a global investor base including, among others,
AP3, AP6, APG, Ardian, Argentum, CNP Assurances, Danica, GIC,
HarbourVest Partners, KEVA, KIRKBI Invest A/S, Ilmarinen, The
Andrew W. Mellon Foundation, New Mexico State Investment Council,
New York City Retirement Systems, Partners Group, PFA, Sampension,
Signal Iduna, USS and Varma.
The
fundraising for EQT VII has now closed. Accordingly, the foregoing
should in no way be treated as any form of offer or solicitation to
subscribe for or make any commitments for or in respect of any
securities or other interests or to engage in any other
transaction.
Contacts:
Christian Sinding, Head of Equity and Partner at
EQT Partners, Investment Advisor to EQT VII +41 79 266 4007
Kerstin Danasten, EQT press contact +46 8 506 55 334
About EQT
EQT is
a leading private equity group in Europe, with portfolio companies across Europe, Asia and the US with total sales of more
than EUR
17 billion and approximately 140,000 employees. EQT
works with portfolio companies to achieve sustainable growth,
operational excellence and market leadership.
About EQT VII
EQT
VII is a EUR
6.75 billion fund which will target control and
co-control equity investments in companies with strong market
positions, significant potential for revenue and earnings growth,
strong cash flows and a solid platform that can retain and attract
high-quality management. EQT VII will seek to make equity
investments typically ranging between EUR
125 million and EUR 600 million. The geographical focus will
primarily be Northern Europe.
For
further information please visit www.eqt.se