EQT to close ninth buyout fund in Q3

In its quarterly announcement, the GP said that following the final close of EQT IX, fundraising efforts will shift to focus mainly on infrastructure fund EQT Infrastructure V.

EQT also said that with the acquisition of IFS by EQT VIII and EQT IX in July 14, EQT VIII is expected to be 80-85% invested and its commitment period has been terminated. With the acquisition of IFS, EQT IX will be 5-10% invested.

The deal saw EQT transferring its stake in IFS from EQT VII to its successor funds EQT VIII and EQT IX, while selling a minority stake to US private equity firm TA Associates. The deal valued the company in excess of €3bn.

The firm also announced that total investments by the EQT funds in the second quarter amounted to €1.3bn. They included Schülke in Germany (EQT VIII) and Freepik in Spain (EQT Mid-Market Europe).

Last month, the GP sold its credit segment to Bridgepoint and set the target for EQT Infrastructure V at €12.5bn.

EQT said that in Q1 the equity need for the portfolio stood at around 15% of the companies held in its key funds. In its Q2 announcement, it reported no change in estimated capital need for the companies. 

EQT posted €40.1bn in assets under management at the end of the second quarter and said that overall investment and exit activity has remained low. 

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