Swedish private equity firm EQT has closed its latest infrastructure fund at $23.4 billion (€21.5 billion), according to a news release.
EQT Infrastructure VI received commitments from institutional investors, including pension funds and sovereign wealth funds, plus asset managers and insurance companies. Fund investors were based across the Americas, Asia Pacific, Europe, the Middle East and the Nordics.
Institutional investors include the $182 billion Texas Teachers Retirement System, Austin, which committed $175 million to the fund in December 2023.
The fund is 35% larger than its predecessor which closed at €15.7 billion in November 2021. EQT Infrastructure VI pursues investment themes such as digital infrastructure; generating, storing and distributing energy; decarbonization and electrification of industrial processes and transport.
Masoud Homayoun, head of infrastructure at EQT, said in the news release: "EQT Infrastructure VI has had a great start with 12 highly thematic investments closed or signed. Our sector teams are continuing to deliver on a healthy investment pipeline, and we are excited by the large opportunity set underpinned by global, long-term trends such as the transition to a decarbonized and circular economy and the digitalization of society.”
The fund has closed 10 investments, including in U.K. storage firm Constellation Cold Logistics and private education firm Universidad Europea. It has also entered into exclusive negotiations to acquire a majority stake in Eutelsat Group’s ground station infrastructure business in Europe, and enter into a joint venture with T-Mobile to acquire telecoms provider Lumos in the U.S.
EQT had €269 billion in total assets under management as of 31 Dec.
