EQT's Fee-Generating Assets Under Management Grew After It Invested $9.5 Billion in 2nd Half
18 January 2024 - 7:07AM
Dow Jones News
By Dominic Chopping
STOCKHOLM--EQT said Thursday that its funds invested 8.7 billion
euros ($9.47 billion) in the second half, with fee-generating
assets under management rising 15% on year.
The Swedish private-equity company said fee-generating assets
under management rose to EUR129.6 billion at the end of December
from EUR112.5 billion at the end of December 2022. Total assets
under management were EUR232 billion.
Total gross fund exits in the second half amounted to EUR2.0
billion.
EQT said the market was tougher for exits and for fundraising in
2023, with exit volumes at their lowest level in well over a
decade.
It said it pressed ahead with fundraising despite the
challenging market and it expects to meet the EUR21.5 billion
fundraising target for its EQT X fund in the first quarter of 2024
though fundraising for EQT Infrastructure VI will continue well
into 2024.
"We see a healthy investment pipeline across geographies and
asset classes," EQT Chief Executive Christian Sinding said.
"While market uncertainties remain, we are also planning for a
number of exits in 2024," he added.
The company proposed a dividend of 3.60 Swedish kronor ($0.34),
up from SEK3.00 last year.
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
January 18, 2024 01:52 ET (06:52 GMT)
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