EQT Partners taking steps towards fundraising
EQT Partners has circulated a draft private placement memorandum among some of its investors with regards to the EQT VI fund, according to reports.
The firm is moving closer to officially marketing its sixth buyout fund, which is believed to be targeting €4.25bn, the same amount raised by the previous fund. Terms of the draft memorandum could be revised.
According to reports, the firm is giving investors an incentive to commit to the fund early by not charging management fees on 10% of total commitments from investors joining at first close. Rumours suggest that the fund will charge a management fee of 1.5% on total commitments until the end of the investment period.
The EQT VI fund will make equity investments of €75-400m in 12-16 companies in the Nordic region and German-speaking Europe. Reports also suggest that EQT will avoid making investments alongside other private equity firms.
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