EQT closes second credit fund on €845m

The fund exceeded its initial target of €750m. EQT Credit II was thought to have hit a first close on €376m in 2012. 

The GP's first credit opportunity fund, EQT Credit I, held its final close in 2010 with committments of €350m.

Investors
The Swedish buyout house reported a strong interest from previous and new investors, with 90% of existing investors committing again. 

While its previous fund, EQT Credit I, was largely backed by Nordic investors, EQT Credit II is made up of 20% European and 25% US investors, as well as 55% from the Nordic region.

Investments
EQT will invest primarily in stressed and distressed situations via its latest vehicle, including in debt of over-leveraged companies. It aims to invest as medium-term investor in illiquid investment situations.

EQT Credit II seeks to make investments across northern Europe in sound mid-market companies.

People
Andrew Konopelski is a partner on EQT's credit team. 

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