EQT Partners AB
EQT closes new Mid Market fund at EUR 1.1 billion
EQT closes new Mid Market fund at EUR 1.1 billion – The EQT Mid Market fund closes above target fund size of EUR 1 billion – Strong commitment from existing investor base – Primarily focused on middle market buyouts and growth equity investments in Northern Europe, Greater China and Southeast Asia EQT , the leading private equity group in Northern Europe, is pleased to announce the recent closing of the EQT Mid Market fund. Interest for the new fund was strong, with 95% of the capital committed by existing EQT investors. The fund is advised by a dedicated team of 35 investment advisory professionals based in Copenhagen, Frankfurt, Hong Kong, Shanghai, Singapore, Stockholm and Warsaw. The team has cumulative experience from advising on more than 30 middle market transactions in prior EQT funds with an aggregated transaction value of over EUR 3.4 billion. The EQT Mid Market team is led by Jan Ståhlberg, one of the founders and Deputy Managing Partner of EQT Partners. The EQT Mid Market fund is the latest addition to the EQT range of funds and investment strategies. The fund is backed by high-quality international institutional investors including pension funds, insurance companies and family offices. The investor base is also well diversified in terms of geography with 51% of the fund commitments being raised from institutional investors in the Nordic region, followed by 22% from the rest of Europe, 16% from North America and 11% from Asia. The middle market opportunity The EQT Mid Market fund The fund will, like all other funds advised by EQT Partners, have a clear focus on supporting the development, improvement and growth in the portfolio companies. EQT believes that its global expertise in supporting business development and growth is often a decisive factor for many company owners when selecting EQT as partner or new owner. So far, the EQT Mid Market fund has invested in five companies; (i) Avenso, a leading gallery network and online retailer for photographic art serving the contemporary photographic art market in Germany, (ii) swiss smile, the leading quality dental chain in Switzerland, (iii) fiber based data communication provider IP-Only in Sweden, (iv) BackWerk, Germany’s leading franchise system in the self-service bakery and quick service food market and (v) China F&B, operating two renowned international restaurant chains, Dairy Queen and Papa John’s Pizza in China. Jan Ståhlberg, Head of the EQT Mid Market team and Deputy Managing Partner of EQT Partners, commented: ‘EQT funds have, since inception 20 years ago, focused on supporting the implementation of growth initiatives in more than 120 portfolio companies using a clearly defined corporate governance model. It is the intent that the focus will continue to build on that experience, making sure that management in companies invested in have access to the best assistance and support. The overall goal is to make the companies stronger, more sustainable and well-positioned to continually prosper after EQT’s ownership.’ Conni Jonsson, Managing Partner of EQT, commented: ‘It is a fantastic sign of trust that 95% of the capital comes from investors in other EQT funds. We believe that with its access to EQT’s global industrial network and the investment advisory team’s extensive experience and local networks in both Europe and Asia, the EQT Mid Market fund is well-positioned with respect to the development of attractive companies in the middle market segment in Europe and Asia.’ Contact: EQT Press Department +46 8 506 55 356 About EQT EQT is the leading private equity group in Northern Europe, with portfolio companies in Northern and Eastern Europe, Asia and the US with total sales of more than EUR 25 billion and over 550,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership. For further information please visit www.eqt.se
End of Media Release Issuer: EQT Partners AB Key word(s): Enterprise 21.01.2014 Dissemination of a Press Release, transmitted by DGAP – a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
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