EQT closes EQT VII on €6.75bn hard-cap

It was reported in November last year that EQT was planning to raise a €5.25bn fund, launching in January 2015. Sources close to the matter, present at the unquote" Nordic Private Equity Forum on 5 May, indicated that the fund had attracted demand amounting to €12bn from potential investors.

The new vehicle follows EQT's oversubscribed €4.75bn EQT VI. It is understood to be the third fund launched by EQT in 2015, though the first one to be officially confirmed by the GP.

Sources told unquote" in June that EQT had launched its first-ever US buyout fund, which had raised $365m towards a $1bn target.

Likewise, the appointments of technology entrepreneurs Hjalmar Winbladh, Lars Jörnow and Kees Koolen were a precursor to the launch of the firm's first technology-focused fund.

The €500m vehicle has yet to be confirmed, but the GP has registered the EQT Ventures internet domain and industry participants have predicted that the fund will be committing substantial tickets in later-stage funding rounds for tech startups.

Investors
More than 70% of commitments came from previous investors, and the fund was described by the GP as "significantly oversubscribed".

Investors included AP3, AP6, APG, Ardian, Argentum, CNP Assurances, Danica, GIC, HarbourVest Partners, Keva, Kirkbi Invest, Ilmarinen, The Andrew W Mellon Foundation, New Mexico State Investment Council, New York City Retirement Systems, Partners Group, PFA, Sampension, Signal Iduna, USS and Varma.

Investments
In line with previous funds, EQT VII will focus on making investments in northern Europe and across all sectors, targeting equity investments typically ranging between €125-600m.

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• Topics
• Nordics
• Buyout
• EQT
• Sweden
• Ardian (formerly Axa PE)
• Argentum
• HarbourVest
• unq2015sep