EQT closes ninth buyout fund on €15.6bn

EQT IX was launched in January 2020 and is already 40-45% deployed. 

The GP declined to comment on its own contribution to the new fund, but, according to Unquote Data, the figure is 2%. 

The GP said that fundraising for the latest fund was materially concluded in September last year and that it "further solidifies the continued support for EQT's active ownership approach and strategy to invest with the mega-trends and themes that have been accelerated during the global pandemic, such as healthcare and TMT".

EQT IX is larger that its predecessor, EQT VIII, which closed on its €10.75bn hard-cap in February 2018.

Investors
Around 70% of the commitments to EQT IX were re-ups made by existing investors from the predecessor fund. The LPs are from Europe, Asia, the Americas and the Middle East, and consist of pension funds, sovereign wealth funds, asset managers and high-net-worth individuals.

Some of the known LPs include Cathay Life Insurance, Chicago Teachers' Pension Fund, Fubon Life Insurance, Teacher Retirement System of Texas, Teachers' Retirement System of the State of Illinois, and Truffle Invest.

Investments
Like the previous fund, EQT IX will acquire European and US-based companies with a strong development potential. 

The GP will focus on four core sectors: healthcare, TMT, services, and selectively in industrial technology. 

It has so far made nine platform investments, including Beijer Ref, a Swedish wholesaler of refrigeration, air conditioning and heating services; Casa.it, an Italian operator of an online real estate platform; Cerba Healthcare, a French pharmaceutical group; the carve-out of Natural Colors from Danish bioscience company Chr Hansen; Idealista, a Spanish online real estate platform; IVC Evidensia, a UK-based veterinary service; ThinkProject!, a German project management software provider; and IFS, a Swedish developer of enterprise resource planning software.

People
EQT – Per Franzén (partner, co-head of EQT Private Equity).

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