EQT Invested $12.95 Billion in 2022 as Assets Under Management Rose 53%

By Dominic Chopping

STOCKHOLM--EQT AB said Wednesday that its funds invested 12 billion euros ($12.95 billion) in 2022, with fee-generating assets under management rising 53% on year.

The Swedish private-equity company said assets under management rose to EUR112.5 billion at the end of December from EUR73.4 billion at the end of December 2021. Total gross fund exits in the year amounted to EUR11 billion.

"Current conditions continue to dampen the transaction market and challenge the fundraising environment," EQT Chief Executive Christian Sinding said.

"As a result, deal activity is substantially slower compared to last year, fundraising is becoming more challenging, and will take longer, even for flagship funds, and ownership periods are expected to be extended," he said.

EQT said it is in a strong position to tackle the challenging market environment. With a young portfolio, global scale, and "substantial volumes of dry powder" to deploy, it will selectively pursue both exits and thematic investments in all markets, the company said.

Write to Dominic Chopping at [e-mail]

Corrections & Amplifications

The headline of this story was corrected at 0646 GMT because the year was misstated as 2023.

(END) Dow Jones Newswires

01-18-23 0145ET