By Dominic Chopping
STOCKHOLM--Swedish private-equity firm EQT AB said Wednesday that its funds invested 7.7 billion euros ($8.96 billion) during the third quarer, with assets under management rising 51% on the year.
EQT said assets under management rose to EUR70.3 billion at the end of September from EUR46.5 billion at the end of September 2020. Total gross fund exits in the quarter amounted to EUR4.9 billion.
The company also announced the launch of EQT Future fund, targeting longer-hold investments in mature companies with market-shaping impact potential.
Former Unilever PLC Chief Executive Paul Polman and Investor AB Chairperson Jacob Wallenberg will co-chair the EQT Future Mission board, it added.
The EQT Future fund will have a target size of EUR4 billion.
"Soon, we will complement this with a longer-hold fund focused on infrastructure," EQT Chief Executive Christian Sinding said.
In terms of EQT's fundraising efforts, the company said it continues its good momentum, but it is also experiencing strong competition for high-quality assets.
"However, EQT has an attractive investment pipeline covering all strategies and geographies and a solid platform for continued and sustainable growth," Mr. Sinding said.
EQT has 27 active funds within two business segments--private capital and real assets.
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(END) Dow Jones Newswires