EQ PE X North holds first close on €83m

Fundraising will continue during Q2, and a final close on €175m is planned for June 2018, according to EQ. The fund has a target of €175m.

Commitments will be made to primary funds and, to speed up capital deployment, in selected secondary transactions. The latter could account for 20-40% of commitments.

EQ intends to make its first investments upon launch, and the fund aims to be fully invested by 2019.

Simultaneously, EQ also announced the launch of its second private equity secondary fund, EQ PE SF II, which held a first close on €65m.

Headquartered in Helsinki, EQ, formerly known as Amanda Capital, is a private equity firm specialising in fund-of-funds investments and that also considers direct investments, according to Unquote Data.

It seeks to invest in buyout, venture capital and private equity funds in various sectors, including IT technology, telecommunications, medicine, biosciences, industrial production and services, retail and the service industries.

It raised €160m for its EQ PE VIII North fund at final close in June 2016.

Investors
EQ said it attracted 43 limited partners at first close for the EQ PE X North fund. Three of these are new LPs, and 40 LPs are repeat investors.

Investments
EQ PE X North invests 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.

People
EQ Asset Management – Staffan Jåfs (head of private equity).

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• Fund-of-funds
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• Finland