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EQT Invested $9.07 Billion in 1st Half, Assets Under Management Nearly Doubled

By Dominic Chopping

 

STOCKHOLM--Swedish private-equity firm EQT AB said Thursday that its funds invested 7.7 billion euros ($9.07 billion) during the first half, with assets under management rising 95% on the year.

EQT said assets under management rose to EUR71.3 billion at the end of June from EUR36.5 billion at the end of June 2020. Total gross fund exits in the half amounted to EUR9.9 billion.

"In terms of deal activity, EQT continued to leverage favorable market conditions, its thematic approach and strong investment capacity," Chief Executive Christian Sinding said.

"As a result, we increased the investment activity, but we had an even more notable rise in exits. Our fundraising efforts also developed well," Mr. Sinding said.

EQT posted first-half revenue of EUR709 million, up from EUR264 million in the same period last year, as management fees doubled to EUR539 million.

The rise in management fees was driven by its EQT IX and EQT Infrastructure V funds, the company's combination with Exeter Property Group, and an increase in carried interest and investment income, it said.

Net profit rose to EUR361 million from EUR47 million.

EQT has 27 active funds within two business segments - private capital and real assets.

 

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

 

(END) Dow Jones Newswires

July 22, 2021 01:46 ET (05:46 GMT)

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