Stockholm-based private-equity firm EQT has announced that its funds invested a total of 2 billion euros ($2.11 billion) in the third quarter of this year, marking a significant increase in fee-generating assets under management compared to the previous year.
According to the company, fee-generating assets rose by 39% on a year-on-year basis, reaching 128 billion euros at the end of September 2022. Overall, EQT’s total assets under management now stand at 232 billion euros.
During the course of the year, EQT achieved a total gross fund exit value of 2 billion euros. The company acknowledged that fundraising remains challenging, particularly for lower-return products and first-time funds. However, despite the current global market uncertainties and subdued deal activity, EQT’s existing clients continue to invest and are increasing the size of their commitments to the latest fund generations.
EQT’s Chief Executive, Christian Sinding, commented on the company’s performance, stating, “In a global market environment that continues to be characterized by uncertainty, muted deal activity, and fundraising headwinds, EQT had a productive third quarter. Our flagship fundraisings are progressing well.”