EQT says its fundraising activity remains robust despite a volatile market backdrop, while also highlighting expectations that ongoing dislocation in private credit could accelerate consolidation across the private equity industry, according to a report by the Wall Street Journal.
The report cited chief executive Per Franzen as saying that the firm anticipates continued market volatility, while also seeing structural shifts that are likely to drive further consolidation among alternative asset managers. He pointed in particular to stress and repricing in private credit markets as a contributing factor to industry-wide change.
The Swedish private equity group also reiterated its focus on thematic investing, with a strong emphasis on artificial intelligence, which it described as a defining long-term investment theme.
The comments came as announced the close of its BPEA IX fund at $15.6bn, underscoring continued investor appetite for its Asia-focused strategy. Fundraising for EQT XI is also progressing, with a first close expected around mid-year, while the firm plans to launch fundraising for EQT Infrastructure VII later this summer.
Operationally, EQT deployed approximately €6bn ($7.05bn) in the first quarter. Fee-generating assets under management remained broadly stable year-on-year at €142bn, while total assets under management stood at €269bn at the end of the period. The firm also recorded €3bn in gross fund exits during the quarter.
