EQT has raised €21.5bn for its latest global infrastructure fund that, according to the manager, has allocated 45-50% of its capital.
The manager said EQT Infrastructure VI closed above its €20bn target, reaching its hard cap and exceeding its predecessor’s €15.7bn fundraising in November 2021.
EQT Infrastructure VI secured capital commitments from a diverse global group of institutional investors, including pension funds, sovereign wealth funds, asset managers and insurers, located in the Americas, Asia-Pacific, Europe, the Middle East and the Nordics, EQT has said.
As previously reported, New Jersey Division of Investment, New Mexico State Investment Council and Maryland State Retirement and Pension System were all committing to the global infrastructure fund.
The New York State Common Retirement Fund, the Orange County Employees Retirement System, Oregon Public Employees Retirement Fund, the Teachers’ Retirement System of Louisiana and the New Mexico State Investment Council were also among the US institutions to commit to the EQT fund.
The fund has completed 10 investments across various regions, including Constellation Cold Logistics, renewable energy platform OX2, Statera and Universidad Europea in Europe; EdgeConnex, Arcwood Environmental formerly known as Heritage Environmental Services, Lazer Logistics, and Madison Energy Infrastructure in the US; and Rena, formerly KJ Environment and SK Shieldus in the Asia-Pacific region.
The fund is also in talks to acquire a majority stake in Eutelsat’s ground station infrastructure business in Europe and has formed a joint venture with T-Mobile to acquire Lumos in the US, EQT said.
Masoud Homayoun, head of infrastructure at EQT, said: “EQT Infrastructure VI has had a great start with 12 highly thematic investments closed or signed.
“Our sector teams are continuing to deliver on a healthy investment pipeline and we are excited by the large opportunity set underpinned by global, long-term trends such as the transition to a decarbonised and circular economy and the digitalisation of society.”
Lennart Blecher, head of real assets at EQT, said: “Since its inception in 2008, EQT Infrastructure has grown at pace and today, we have a 130-strong team and three investment strategies – value-add, active core and the recently launched transition infrastructure strategy.
“We are thrilled to announce the final close of EQT Infrastructure VI, our latest flagship fund within EQT’s €751bn global infrastructure business, and look forward to continuing to scale the platform.”
Suzanne Donohoe, chief commercial officer at EQT, said: “We would like to thank our longstanding clients, whose commitments represented around 70% of this fundraise, for their continued confidence in the EQT value-add infrastructure strategy.
“We are also grateful for our new partners’ trust in EQT and we aim to continue to deliver attractive returns through economic cycles.”
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