eQ Raised Record 375 Million Euros For Two Private Equity Funds
eQ Asset Management held a final closing on 17 December 2020 at 205 million euros for its latest Northern European private equity fund eQ PE XII North. Simultaneously, a final closing was held for eQ’s secondary fund eQ PE SF III with 170 million euros. Both funds were established in January 2020. The predecessor funds raised a combined 310 million euros in 2018.
eQ PE XII North is a fund of funds investing in private equity funds targeting Northern European small and mid-sized unlisted companies. The investments will be well-diversified across different sectors, geographies and stages of development. The portfolio companies are all profitable, operationally stable businesses with positive cash flows. The fund will invest in both primary and secondary funds.
eQ PE SF III is eQ’s third secondary fund and has the same focus as eQ PE XII North, but invests only in funds available in the secondary markets.
Staffan Jåfs, Head of Private Equity at eQ comments:
”Despite COVID-19, demand for our European funds has been very strong. Investors have now seen how private equity balances portfolios in volatile market environments. Transaction activity is picking up towards the year-end and our new funds will be able to take advantage of this. Historically, private equity returns have been excellent for vintages following large market corrections. Consequently, we have made a record number of commitments this year and both funds will be fully invested by the end of 2021. A significant share of our investors are programme investors for whom eQ is building their private equity portfolios systematically. The majority of our investors are Finnish institutions and family offices but increasingly also international institutional clients have made commitments to our new funds.”
The private equity team of eQ is one of the most experienced in the Nordics with direct access to oversubscribed funds. eQ PE XII North has already made primary commitments to six new funds and through eQ PE SF III it has exposure to 37 portfolio companies.
“eQ will launch its fourth North America –focused fund, eQ PE XIII US, in January 2021. Like its strongly developing predecessors, this fund will be invested in co-operation with our Chicago-based partner RCP Advisors”, concludes Jåfs.
Helsinki 18 December 2020
eQ Asset Management Ltd
For additional information:
Staffan Jåfs, Head of Private Equity, eQ Asset Management Ltd
+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 8.7 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.