eQ Asset Management has raised a company-record EUR175 million for its latest Northern European private equity fund eQ PE X North at final closing on 6 September 2018. A final closing was also held on the same date for eQ’s second secondary fund eQ PE SF II with EUR135 million of committed capital. Both funds first closings were held in January 2018.
eQ PE X North is a fund of funds investing in private equity funds targeting Northern European small and mid-sized unlisted companies. The fund will consist of approximately ten underlying funds through which investments will be widely diversified in different sectors, geographies and stages of development. The underlying investee companies are all profitable, operationally stable businesses with positive cash flows. The fund will invest both in primary and secondary funds.
eQ PE SF II is eQ’s second secondary fund which has the same focus as eQ PE X North, but investing only in funds available in secondary markets.
Staffan Jåfs, Head of Private Equity at eQ, says: “Demand for our European fund has been strong. Investors in Finland, and globally, are increasing their allocation weights in alternatives. A significant share of our investors are so-called program investors for whom eQ is building their private equity portfolios systematically. The majority of our investors are Finnish institutions and family offices. In addition to that, over 10 per cent of commitments in eQ PE X North were raised from international clients.”
“The private equity team of eQ is one of the most experienced in the Nordics with a direct access to also funds raising commitments fast to full capacity. eQ PE X North has already made a commitment to one new fund and through eQ PE SF II it has exposure to 47 investee companies.”
“We continue our new product launches: eQ Private Credit II will hold its first closing in October 2018 and our next private equity fund investing in North America will open for first closing in January 2019.”
