EQT Invested $5 Billion in 1Q as Fee-Generating Assets Under Management Rose 55%

By Dominic Chopping

STOCKHOLM--EQT AB said Thursday that its funds invested 5 billion euros ($5.48 billion) in the first quarter, with fee-generating assets under management rising 55% on year.

The Swedish private-equity company said fee-generating assets under management rose to EUR119.1 billion at the end of March from EUR77.2 billion at the end of March 2022. Total assets under management were EUR216 billion.

Total gross fund exits in the year amounted to EUR1 billion.

EQT said deal activity picked up at the start of the year, and while financing continued to be available for new investments, recent volatility could mean a continued shift in the sources of financing towards private credit.

"The fundraising market continues to be challenging, as flagship fundraisings are taking longer to complete, while the smaller and more recently launched initiatives require more time and effort to raise," EQT Chief Executive Christian Sinding said.

"Looking forward, we continue to have substantial dry powder available...we are in a prime position to execute on thematic investment opportunities on a global scale."

The company said that despite current volatile market conditions, the long-term growth prospects for private markets remain strong, with investors increasingly recognizing the benefits of private markets.

Write to Dominic Chopping at [e-mail]

(END) Dow Jones Newswires

04-20-23 0305ET