Good investment activity in the EQT funds continued in the third quarter
HIGHLIGHTS DURING THE THIRD QUARTER 2019
Total investments by the EQT funds in the period amounted to EUR 3.4bn
- Private Capital: Investments include, among others, Aldevron and Waystar in North America (both in EQT VIII) and Ellab in Denmark (EQT Mid Market Europe)
- Real Assets: Investments include, among others, Inexio in Germany (EQT Infrastructure IV) and Pegasus Optimization Managers in North America (EQT Infrastructure IV), an add-on acquisition to further strengthen portfolio company Kodiak Gas Services
- Credit: EUR 0.7bn invested across funds within Special Situations, Direct Lending and Senior Debt
- Total gross fund exits in the period amounted to EUR 0.8bn and were mainly within Real Assets
- In addition to continuous client relationship management, fundraisings in the period focused on EQT Real Estate II and EQT Ventures II
- Expected Gross MOIC currently developing ”On plan” in EQT’s key funds in Private Capital and Real Assets, except for EQT Infrastructure III which as per September 30, 2019, continued to develop ”Above plan”
- First day of trading in EQT AB’s share on Nasdaq Stockholm on September 24, 2019
HIGHLIGHTS DURING THE FIRST NINE MONTHS 2019 (Jan-Sep 2018)
- Good investment activity across the EQT funds with total fund investments of EUR 10.1bn (EUR 5.5bn), of which EUR 1.7bn (EUR 0.8bn) within Credit
- Investment level in key funds as of September 30, 2019: 65-70% in EQT VIII (25-30% as of September 30, 2018) and 50-55% in EQT Infrastructure IV (start-date November 30, 2018)
- Supportive exit environment with EUR 5.6bn in total gross fund exits across the EQT funds (EUR 4.6bn), of which EUR 0.6bn (EUR 0.7bn) within Credit
- Fee-paying AUM increased to EUR 40.5bn as of September 30, 2019, (EUR 31.7bn). This has primarily been driven by the successful closing of EQT Infrastructure IV with a fund size of EUR 9.1bn
- Number of full-time equivalent employees and on-site consultants (FTE plus) amounted to 675 (571) at the end of the period, of which FTEs amounted to 617 (503)
EVENTS AFTER THE REPORTING PERIOD
- Investment level in key funds as of November 5, 2019, continued to be 50-55% in EQT Infrastructure IV and 65-70% in EQT VIII. In light of the investment level of EQT VIII, preparations for the successor fund EQT IX are intensifying and fundraising of EQT IX is expected to begin in 2020
Presentation of EQT AB’s Q3 2019 announcement
A telephone conference which will be held at 8:30 CET. Presentation materials for the telephone conference will be available on https://www.eqtgroup.com/shareholders/financial-reports/
At the telephone conference, Kim Henriksson, CFO, will present EQT AB’s Q3 announcement in English, followed by a Q&A session also joined by Åsa Riisberg, Partner & Head of Shareholder Relations and Pawel Wyszynski, Shareholder Relations Officer.
To participate, please use the dial-in details below, at least 10 minutes in advance:
Sweden: +46 8 566 42 651
UK: +44 333 300 0804
USA: +1 631 913 1422
Confirmation Code: 53001000
Åsa Riisberg, Partner & Head of Shareholder Relations, +46 8 506 55 342
Nina Nornholm, Head of Communications, +46 70 855 03 56
Pawel Wyszynski, Shareholder Relations Officer, +46 72 987 36 44
EQT Press Office, [email protected], +46 8 506 55 334
This is information that EQT AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 07:30 CET on November 5, 2019.
EQT is a differentiated global investment organization with a 25-year track-record of consistent investment performance across multiple geographies, sectors and strategies. With a strong brand and distinct corporate culture, EQT manages and advises funds and vehicles that invest across the world with the mission to generate attractive returns to the fund investors.
EQT’s talent base and network allow it to pursue a unique value creation approach and thematic investment strategy, with the aim of future-proofing the companies which EQT invests in, creating superior returns and making a positive impact with everything EQT does.
EQT has more than EUR 62 billion in raised capital since inception, currently around EUR 40 billion in assets under management across 19 active funds within three business segments – Private Capital, Real Assets and Credit. EQT is a thought leader within the private markets industry with deep expertise in responsible and long-term ownership, corporate governance, operational excellence, digitalization and sustainability. EQT has offices in 15 countries across Europe, Asia Pacific and North America with more than 675 employees.
The EQT AB Group comprises EQT AB (publ) and its direct and indirect subsidiaries, which includes entities advising EQT funds as well as general partners and fund managers of EQT funds.
More information: www.eqtgroup.com