By Dominic Chopping


STOCKHOLM--Swedish private-equity company EQT AB said Tuesday that its funds invested 3 billion euros ($3.21 billion) in the first quarter of 2022, with assets under management rising 32% on year.

EQT said assets under management rose to EUR77.2 billion at the end of March from EUR58.7 billion at the end of March 2021. Total gross fund exits in the year amounted to EUR2 billion.

"The quarter is overshadowed by Russia's invasion of Ukraine and the human tragedy taking place," EQT Chief Executive Christian Sinding said.

"Whilst our portfolio companies had very little activity in the region, EQT is supporting any portfolio companies and the people affected, and all portfolio companies have been urged to wind down any operations in Russia."

The company said that despite increased market volatility and geopolitical unrest, deal activity continued both on the investment and exit side. Execution has been somewhat slower over the past quarter, but it continues to see a strong pipeline of thematic investment opportunities, it added.

Global challenges remain and uncertainty is set to continue, EQT said.

EQT has 36 active funds within two business segments: private capital and real assets.


Write to Dominic Chopping at dominic.chopping@wsj.com


(END) Dow Jones Newswires

04-26-22 0226ET