EQT raises €9bn for fourth global infrastructure fund

EQT has concluded capital raising for its latest global infrastructure, hitting its €9bn limit for EQT Infrastructure IV.

The Stockholm-headquartered fund manager said it had held a final close on the fund, drawing most of the commitments from investors in its previous fund which raised €4bn in 2017.

EQT said investors included pension funds, insurance companies, sovereign wealth funds, financial institutions, endowments, foundations and family offices.

According to a source familiar with the matter, investors include Asian insurers Nan Shan, Fubon Life, Dai-ichi Life, Cathay Life and Taiwan Life, as well as Australian superannuation schemes Funds SA, LGIAsuper and Local Government Super, and investment managers Ardian and Pantheon.

As previously reported by IPE Real Assets, investors in EQT Infrastructure IV include Alaska Permanent Fund Corporation and Oregon Public Employees Retirement Fund.

EQT said it would maintain its “industrial approach”, investing in high-quality companies with infrastructure characteristics and potential for value creation.

The fund will invest primarily in Europe and North America but can explore opportunities in Asia-Pacific.

It has already made two investments: Saur, a leading French drinking and waste water management company, and Osmose Utilities Services, a leading provider of critical inspection, maintenance and restoration services for utility and telecom infrastructure in the US.

Lennart Blecher, deputy managing partner at EQT Partners and head of EQT Real Assets, said: “EQT Infrastructure has a great track record of delivering attractive, risk-adjusted returns to investors since the inception of the EQT Infrastructure platform more than 10 years ago.

“The successful fundraising of EQT Infrastructure IV confirms investors’ trust in EQT and illustrates the continued demand for infrastructure investments in the Fund’s core regions.”

 

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