By Elena Vardon

EQT reported a rise in assets under management in the first quarter, while the investments by its funds and fund exits were lower than the previous year.

The Swedish private-equity company said Thursday that its fee-generating assets under management rose to 132 billion euros ($140.89 billion) at the end of March from EUR119 billion a year prior. Total assets under management stood at EUR242 billion, up from EUR216 billion, it said.

"Fundraisings are generally taking longer in the current fundraising environment, and we expect the fundraising market to meaningfully improve only once realizations pick up materially across private markets," the group said.

Investments by its funds reached EUR4 billion, compared with EUR5 billion the previous year, the group said. Total gross fund exits in the three month period amounted to EUR1 billion, against EUR2 billion.

"Investment activity continued at a good pace and, with transactions such as the IPO of Galderma, we expect a gradual increase in exit activity," Chief Executive Christian Sinding said.

Write to Elena Vardon at

(END) Dow Jones Newswires

04-18-24 0207ET