By Dominic Chopping
STOCKHOLM–Swedish private-equity agency EQT AB stated Thursday that its funds invested 7.7 billion euros ($9.07 billion) through the first half, with belongings beneath administration rising 95% on the yr.
EQT stated belongings beneath administration rose to EUR71.3 billion on the finish of June from EUR36.5 billion on the finish of June 2020. Whole gross fund exits within the half amounted to EUR9.9 billion.
“By way of deal exercise, EQT continued to leverage favorable market circumstances, its thematic method and powerful funding capability,” Chief Government Christian Sinding stated.
“Consequently, we elevated the funding exercise, however we had an much more notable rise in exits. Our fundraising efforts additionally developed nicely,” Mr. Sinding stated.
EQT posted first-half income of EUR709 million, up from EUR264 million in the identical interval final yr, as administration charges doubled to EUR539 million.
The rise in administration charges was pushed by its EQT IX and EQT Infrastructure V funds, the corporate’s mixture with Exeter Property Group, and a rise in carried curiosity and funding revenue, it stated.
Internet revenue rose to EUR361 million from EUR47 million.
EQT has 27 energetic funds inside two enterprise segments – non-public capital and actual belongings.
Write to Dominic Chopping at [email protected]
(END) Dow Jones Newswires
July 22, 2021 01:46 ET (05:46 GMT)
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