EQT AB has successfully secured €21.5bn ($23.2bn) for its latest infrastructure fund, surpassing its initial €20bn target, with the final close coming at the fund’s hard cap, according to a report by Bloomberg.
The new fund will focus on digital infrastructure and assets related to energy generation, storage, and distribution, with an emphasis on decarbonisation and electrification of industrial processes. The firm’s strategic approach aims to capture opportunities in these key areas while offering inflation protection and downside resilience.
EQT Infrastructure VI, which now manages €21.3bn in fee-generating assets, is approximately 35% larger than its predecessor, EQT Infrastructure V, which closed at €15.7bn in 2021.
The fund has already closed 10 investments since its launch in 2022, including the $1.5bn take-private of Swedish wind park developer OX2 AB in early 2024.
This milestone highlights the growing demand for capital in the energy sector, which continues to outpace broader market uncertainty, the report says citing Lennart Blecher, Head of Real Assets at EQT.
Despite a global slowdown in dealmaking following major policy shifts in the US, Blecher remains bullish on infrastructure investments, emphasising that the demand for energy and connectivity remains strong, regardless of economic cycles.
While fundraising for infrastructure funds has been more favourable compared to private equity, Blecher acknowledged challenges in maintaining institutional investor commitment. However, EQT, which currently manages €75bn in global infrastructure assets, has seen strong support, with 70% of its existing clients increasing their investments by an average of 20%.
EQT’s global client base reflects diverse geographic support, with Asia Pacific and the Americas each accounting for 30% of commitments, and the remaining contributions split between Europe, the Middle East, and Africa.
