EQT Infrastructure III closes at €4 billion after 6 months of fundraising

EQT closed its third infrastructure fund, EQT Infrastructure III, at its hard cap of €4 billion ($4.2 billion).

The firm raised the fund in less than six months, which it said in a news release Thursday was its fastest fundraising in its history.

The fund invests in a number of sectors including energy, telecommunications and social infrastructure, mainly in Europe and North America. The previous fund closed at €1.925 billion in January 2013.

The release said existing and new investor interest was strong, and the fund was “heavily oversubscribed.” Assets will be deployed in line with EQT’s objectives of investing in high-quality companies and developing them into strong and sustainable businesses.

“We believe that there is continued demand for infrastructure investments that will bring attractive market opportunities,” said Lennart Blecher, deputy managing partner and head of real assets at EQT Partners, investment adviser to the fund, in the release.

The fund has already made four acquisitions.

Among its investors are the $133.2 billion Texas Teacher Retirement System, Austin, which committed €180 million in January; a $200 million commitment by the $69.4 billion Oregon Public Employees Retirement Fund, Tigard, in December; and an up to €135 million commitment by the $12.5 billion Maine Public Employees Retirement System, Augusta, in November.

A spokeswoman for EQT could not be reached for comment by press time.