PE Fundraising
EQT targeting $23B for latest buyout fund
January 19, 2022
Swedish private equity firm EQT is looking to raise at least €20 billion (around $23 billion) for its 10th flagship buyout fund, as it seeks to expand its US footprint. Should it reach its target, EQT X will be 28% bigger than EQT IX, which reached a €15.6 billion close in April last year.
The new fund is currently the largest European-managed fund on the market. At €20 billion, it would be the second-largest vehicle to come out of the region after CVC Capital Partners' Fund VIII, which reached a €21.3 billion close in 2020.
However, the fund is not expected to focus exclusively on Europe. Its predecessor targets investments in Europe and the US with an investment range between €125 million and €1 billion and a focus on healthcare; technology, media and telecommunications services; and industrial technology.
Notable deals from EQT IX include biopharma company Parexel, which EQT and Goldman Sachs acquired in July of last year for $8.5 billion, and real estate investment firm Exeter Property Group which EQT bought for over $1.8 billion in January of 2021.
The new fund is currently the largest European-managed fund on the market. At €20 billion, it would be the second-largest vehicle to come out of the region after CVC Capital Partners' Fund VIII, which reached a €21.3 billion close in 2020.
However, the fund is not expected to focus exclusively on Europe. Its predecessor targets investments in Europe and the US with an investment range between €125 million and €1 billion and a focus on healthcare; technology, media and telecommunications services; and industrial technology.
Notable deals from EQT IX include biopharma company Parexel, which EQT and Goldman Sachs acquired in July of last year for $8.5 billion, and real estate investment firm Exeter Property Group which EQT bought for over $1.8 billion in January of 2021.
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