EQT announces the closing of its eighth equity investment fund at EUR 10.75bn.
EQT, a Swedish private equity group part of Investor AB and managing 20 funds with EUR 30 billion in raised capital, announced that the eighth fund within the Equity investment strategy, EQT VIII, held a first and final close at its hard cap of EUR 10.75bn ($13.2bn).
The fund officially launched in September 2017.
This is the largest fundraising in the EQT's history, has been roughly two times oversubscribed and it is 60% larger than their previous fund, with strong investor demand from both existing and new investors, with approximately 70% of the commitments to EQT VIII made by investors in the predecessor Equity fund, EQT VII.
It should be noted that the company had to refuse record amount of cash from investors desperate to deploy capital in a low interest rate environment.
EQT VIII will continue the investment strategy of the previous EQT Equity funds, with geographical focus primarily in Northern Europe, looking for investments in the Healthcare, TMT and Services sectors.