eQ raised more than 500 million euros for private equity
- Private Equity
- December 21, 2022
- No Comment
21 December 2022, 9:00 am
eQ PE XIV North focusing on Northern Europe held its final close on 288 million euros, a more than 40 % increase compared to its predecessor. eQ PE SF IV focusing on secondary transactions held its final close on 151 million euros and eQ VC focusing on US venture capital held its final close on 77 million dollars.
eQ PE XIV North is a fund-of-funds, committing to funds that invest in Northern European, private lower middle market companies. The portfolio will be well-diversified across sectors, geography and company stage. Commitments will be made to both new, established funds and to secondary transactions (through the fund eQ PE SF IV). eQ PE SF IV is eQ’s fourth secondary fund and the focus is the same as eQ PE XIV North, however, it only acquires fund positions in the secondary market.
eQ VC is eQ’s inaugural venture capital fund, which invests predominantly in US early and late stage venture capital funds. eQ’s venture capital partner is US-based TrueBridge Capital Partners. TrueBridge is one of the best and most experienced VC-investors globally with a long and excellent track record.
Staffan Jåfs, head of private equity, comments:
”Despite the challenging environment, 2022 was a record fund raising year for eQ. In addition, the performance of our existing PE-funds remained strong. We invest in the lower middle market, where value creation and valuations stem from operational improvements and earnings growth. The correlation with public markets is low. The investment programmes of the recently closed funds are well underway. eQ PE XIV North has committed 2/3 of its capital to some of the very best country- and sector-focused funds. The secondary fund eQ PE SF IV is investing in a dislocated market, where there are more attractive portfolios available than normal. eQ VC is a new strategy exemplifying eQ’s ability to create new, complementary products for its clients’ portfolios. Venture Capital is a long-term focus area for eQ and the next VC-fund is planned for Q3/2023.”
eQ will establish the next US-focused PE-fund, eQ PE XV US, in January 2023. This will be the fifth fund generation in co-operation with its long-term partner RCP Advisors and the fund is targeting professional investors only. The previous four US-funds have raised more than 700 million dollars in aggregate.
Helsinki 21 December 2022
eQ Asset Management Ltd
Staffan Jåfs, Head of Private Equity, eQ Asset Management Ltd, +358 (9) 6817 8736, staffan.jafs@eQ.fi
Distribution: Nasdaq Helsinki, www.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 12.3 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.