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EQT closes largest ever buyout fund at €22bn

European private equity major EQT has closed the largest buyout fund in the firm’s 30-year history with €22bn in total capital commitments, taking firm-wide assets to €232bn, according to a report by the Financial Times.

Fundraising for the Stockholm-based firm’s latest vehicle was completed over more than two years, with the fund eventually surpassing its original €20bn target and closing 40% higher than its predecessor €15.6bn fund, which closed in 2021.

EQT is the latest established buyout firm to complete a large fundraise following CVC Capital Partners and Warburg Pincus, who both closed record funds last year. Their success comes as many smaller and newer firms have struggled to attract investor commitments.

The report quotes the Head of EQT’s private equity business as saying that he is expecting an increase in “deal activity in private markets” after a quiet couple of years and that EQT, which historically has invested in mid- and large-sized companies across Europe and North America in the healthcare, technology and services sectors, is preparing some large investments to go public, provided market conditions are favourable.

“There are real signs that IPO markets are reopening in Europe and the United States,” he said.

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