EQT Invested $2 Billion in 3Q as Fee-Generating Assets Under Management Rose 39%

By Dominic Chopping

STOCKHOLM--EQT said its funds invested 2 billion euros ($2.11 billion) in the third quarter, with fee-generating assets under management rising 39% on year.

The Swedish private-equity company said Tuesday that fee-generating assets under management rose to EUR128 billion at the end of September from EUR92 billion at the end of September 2022. Total assets under management were EUR232 billion.

Total gross fund exits in the year amounted to EUR2 billion.

EQT said the global fundraising environment continues to face headwinds, especially for lower-return products and first-time funds.

Existing clients are generally taking longer to commit, but they continue to invest and are on average increasing the size of commitments to the latest fund generations, it said.

"In a global market environment that continues to be characterized by uncertainty, muted deal activity and fundraising headwinds, EQT had a productive third quarter," EQT Chief Executive Christian Sinding said.

"Our flagship fundraisings are progressing well."

Write to Dominic Chopping at [e-mail]

(END) Dow Jones Newswires

10-17-23 0210ET