EQT Infrastructure fund hits €9bn hard-cap

The Stockholm-headquartered manager announced the final close for EQT Infrastructure Fund IV on 12 March, several days after Unquote sister publication Inframation exclusively revealed details of the fundraise.

The general partner launched fundraising last August for the fund, which will seek investments in Europe, North America and Asia, and is more than twice the size of its predecessor.

A number of LPs that invested in EQT's previous iteration, Infrastructure Fund III, are understood to have renewed commitments. These include US public pension funds Teacher's Retirement System of Texas ($200m) and Maine Public Employees Retirement System ($100m), as well as Australian pension funds Funds SA and Local Government Super, and infrastructure managers Ardian and Pantheon.

Asian investors known to have renewed commitments include Japanese insurance firm Dai-Chi Life Insurance Company, and Taiwanese insurers Fubon Life Insurance Company and Nan Shan Life Insurance Company.

New LPs to commit to the fund are understood to include the Alaska Permanent Fund Corporation ($175m), San Mateo County Employees' Retirement Association ($30m), and Taiwanese insurance companies Taiwan Life and Cathay Life.

The fund will target equity investments of between €100-600m in the energy, transport and logistics, telecoms, environmental, and social infrastructure sectors across Europe and North America, as well as certain opportunities in Asia-Pacific.

The fund is understood to have already made two investments, comprising Saur, a French drinking and waste water management company; and US maintenance and restoration provider Osmose Utilities Services. The two investments represent around 10% of the fund in total.

EQT Infrastructure declined to comment.

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