eQ PE X North announced EUR 83M available to fund unlisted small and mid-market growth companies in Northern Europe.

Finland 01 February 2018
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eQ Group, a Finnish group of companies that concentrates on asset management and corporate finance operations, announced its first closing of eQ PE X North at EUR 83M.

eQ PE X North aims to invest in private equity funds targeting unlisted small and mid-market growth companies in Northern Europe. The fund aims to diversify underlying holdings in different geographical regions, development stages and industries.

The fund, which is part of eQ Asset Management led by Staffan Jåfs, attracted 43 limited partners in the first close, out of which 40 LPs are repeat investors. Fund has a target of EUR 175M and its raising will continue during spring and final close will happen in June 2018.

Simultaneously, eQ launches its second private equity secondary fund, eQ PE SF II, with a first closing at EUR 65M.

eQ PE X North’s entire secondary allocation will be invested through eQ PE SF II and eQ PE X North is committing 32 million euros in the first close Fund raising and investment periods will be the same for both funds. eQ PE SF II will start its investment programme immediately with the acquisition of seven fully invested private equity funds.