EQT hit its hard cap of €22 billion ($23.7 billion) for its flagship private equity fund EQT X, exceeding its €20 billion target.
The previous fund, EQT IX, closed at €15.6 billion in April 2021.
The fund invests primarily in Europe and North America's healthcare, technology and tech-enabled services sectors, a news release said. It is 30% to 35% invested based on the actual fund size.
"We remain focused on backing and futureproofing companies in attractive and resilient sectors, such as healthcare and technology, and have proven our ability to perform and return capital across cycles," said Per Franzen, head of private capital Europe and North America, and chair of the EQT private equity investment committees, in the release. "We continue to invest in our sector expertise, sharpening our ownership model and developing our value-creation toolbox. Our thematic investment strategy and strong local presence are competitive advantages when sourcing opportunities, not least in a slower deal-making environment."
EQT has a total €232 billion in assets under management across two business segments, covering private capital and real assets.
Investors in the latest fund include the ¥219.32 trillion ($1.47 trillion) Government Pension Investment Fund, Tokyo, and the $25 billion Louisiana Teachers' Retirement System, Baton Rouge.
