STOCKHOLM, March 5, 2024 /PRNewswire/ -- EQT is pleased to share that EQT Future (or the "Fund") has held its final close. The Fund raised EUR 3 billion (USD 3.3 billion) in total commitments, with total fee-generating commitments for the overall strategy, including co-investments, totaling EUR 3.6bn (USD 3.9 billion)1. The close brings the combined final closes by the EQT Private Equity platform in 2024 to more than EUR 25 billion (USD 27 billion) in total commitments.
An integrated part of EQT Private Equity, EQT Future backs robust and downside-protected business models in two thematic areas: Climate & Nature and Health & Wellbeing. By adding a tailored impact management and measurement toolbox and having a more flexible investment mandate, it aims to innovate on EQT's proven approach and create long-term value in its portfolio. The Fund is Article 9 accredited and has innovated around ways to align sustainability with financial returns, linking carried interest to sustainability targets.
The Fund received commitments from investors across the Americas, Asia-Pacific, the Middle East, Europe and the Nordics. It has a diversified investor base, including forward-thinking institutional and private wealth clients, notably family offices, with a greater share of commitments coming from the latter segment compared to the EQT Private Equity flagship funds.
Simon Griffiths, Partner and Head of the EQT Future Advisory team, said: "That EQT has been able to introduce a new strategy and receive strong backing for EQT Future's attractive downside-protected offering shows that investors are keen to see innovation within private markets. We've married EQT's proven private equity approach with new impact thinking to invest in market leaders that can be grown over the longer term and that can potentially transform whole industries. This differentiates EQT Future from many other impact funds, which typically focus on venture and growth-stage opportunities. We have partnered with three businesses where the founders and management share our vision of driving more sustainable products and services, and the portfolio has already shown its resilience."
Per Franzén, Head of Private Capital Europe & North America at EQT and Chairman of the EQT Private Equity Investment Committees, including EQT Future, said: "EQT Future is a perfect complement to our Equity strategy. Having a longer-hold mandate makes us an ideal partner to long-term owners, such as industrial families and entrepreneurs. It also enables us to acquire crown jewels and develop them to their fullest potential. As an integrated part of our Private Equity strategy, EQT Future makes us a smarter thematic investor. It enables us to select the right opportunities with a focus on sustainable long-term value creation, and makes us a better partner to our clients."
The Fund is currently circa 40-45 percent invested across three high-quality, downside-protected companies, which all show strong underlying earnings growth and are realizing their impact potential:
Management fees for the Fund are charged on invested capital during its full term. This means that management fees will be charged only as and when investments are made by the Fund. Co-investment figures included are invested capital that is fee and carry-paying.
Contact
EQT Press Office, press@eqtpartners.com, +46 8 506 55 33
The following files are available for download:
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