eQ Asset Management holds two second closings
eQ PE XII North fund has raised an additional 31 million euros and held a second close on April 24, 2020 at 157 million euros of commitments. Fund raising will continue with a final closing in June aiming for 200 million euros of commitments.
eQ PE XII 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 and across different vintages. Commitments will be made to primary funds and, to speed up capital deployment, in selected secondary transactions. The target weight for secondaries is approximately one third of overall commitments.
Simultaneously, eQ held a second closing for eQ PE SF III – investing in secondaries exclusively – raising 40 million euros, which brings the total commitments to 115 million euros. eQ PE XII North’s entire secondary allocation will be invested through eQ PE SF III. This fund will also continue fund raising aiming for 150 million euros of commitments at final closing in June.
“Due to Covid-19, private equity fund raising is expected to slow down overall. Interest for the best managers, however, continues to be strong and eQ’s fund raising is a good example of that. Secondary transaction activity is increasing providing interesting investment opportunities. Private equity commitments should be done consistently and also during times like these. Historically, vintages following an economic downturn have produced excellent returns” comments Staffan Jåfs, Head of Private Equity at eQ Asset Management.
Staffan Jåfs, Head of Private Equity, eQ Asset Management, +358 (9) 6817 8736, staffan.jafs@eQ.fi
eQ Group is a Finnish group of companies specialising in asset management and corporate finance business. eQ Asset Management offers a wide range of asset management services (including private equity funds and real estate asset management) for institutions and individuals. The assets managed by the Group total approximately EUR 11.7 billion. Advium Corporate Finance, which is part of the Group, offers services related to mergers and acquisitions, real estate transactions and equity capital markets.
More information about the Group is available on our website at www.eQ.fi.