30 June 2021, 09:00 am
eQ Asset Management’s fourth US-focused private equity fund eQ PE XIII US has raised a record USD 293 million from the beginning of fund raising in January 2021. eQ ’s previous US-fund eQ PE XI US raised USD 217 million in 2019. The new fund exceeds its predecessor by over 35% and brings the total commitments in US PE-funds to almost 700 million USD.
eQ PE XIII US makes commitments to private equity funds whose strategy is to invest equity in unlisted lower midmarket companies operating in the US and Canada. The portfolio will consist of around 15 funds investing into approximately 200 underlying companies diversified by sector and geography. eQ will manage the fund and Chicago-based RCP Advisors will act as the investment advisor responsible for investment selection and providing access to the most interesting funds.
Staffan Jåfs, Head of Private equity comments:
" eQ has raised almost 700 million USD for private equity funds investing in North America. Our strategic partnership with RCP has evolved into an outstanding cooperation. An experienced local partner is an essential requirement to finding the most interesting funds and providing access to these funds. We have made over 40 commitments to funds in North America over the last six years and our first US-focused funds have already demonstrated strong value creation. For eQ PE XIII US commitments have already been made covering 60% of investment capacity", concludes Jåfs.
eQ Asset Management’s assets under management totaled 9.9 billion euros at the end of March 2021 out of which 2.0 billion euros are in private equity fund of funds. eQ launches European and US-focused funds alternating years. Following eQ PE XIII US, eQ PE XIV North and eQ ’s fourth secondary fund eQ PE SF IV will be launched in 2022, both investing in Northern Europe. eQ PE funds are available only to professional investors.
Helsinki 30 June 2021
eQ Asset Management Ltd
For further information:
eQ Group is a Finnish group of companies specialising in asset management and corporate finance business. eQ Asset Management offers a wide range of asset management services (including private equity funds and real estate asset management) for institutions and private individuals. The assets managed by the Group total approximately EUR 9.9 billion. Advium Corporate Finance, which is part of the Group, offers services related to mergers and acquisitions, real estate transactions and equity capital markets.
More information about the Group is available on our website at www. eQ .fi.