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EQT closes infrastructure fund at $18.2bn

Capital has already been used across different sectors, including European digital infrastructure operators.

By João Marques Lima

Founder and Editor, The Tech Capital

3 Mins

November 03, 2021 | 5:00 AM GMT

EQT closes infrastructure fund at $18.2bn

Christian Sinding, CEO and Managing Partner. Source: EQT

EQT said that the EQT Infrastructure V fund has held its final close at €15.7 billion (US$18.18 billion) in fee-generating assets under management.

The fundraising, led by EQT’s in-house Capital Raising and Client Relations team, was launched in July 2020 and active fundraising efforts were materially concluded during Q2 2021.

The fundraising for EQT Infrastructure V resulted in a 99% re-up rate from the predecessor fund based on committed capital and 68% based on the number of investors.

“The strong demand demonstrates the continued support for EQT Infrastructure’s thematic investment strategy, focused on backing companies within its core sectors: energy, transport and logistics, environmental, digital, and social infrastructure,” the company said in a statement.

The fund is backed by a diversified, global investor base consisting of pension funds, insurance companies, sovereign wealth funds, financial institutions, endowments, foundations, family offices, and private wealth platforms, among others.

Lennart Blecher, Head of Real Assets’ Advisory Teams and Deputy Managing Partner, said: “We are humbled by the confidence the investors have placed in us, and we see the successful fundraising as a testimony to EQT’s purpose-driven and thematic approach to infrastructure investing.

“Looking ahead, we have a strong pipeline of interesting opportunities within energy transition and decarbonization, digital, environmental, and social infrastructure on both sides of the Atlantic, as well as the potential for select investments in Asia-Pacific.”

The Fund made its first transaction in August 2020 and has since then invested in 12 portfolio companies.

The portfolio companies include ferry line operators Molslinjen and Torghatten in the Nordics, energy transition companies Covanta and Cypress Creek in North America, as well as digital infrastructure operators Deutsche Glasfaser, DELTA Fiber, and Fiberklaar in continental Europe.

EQT Infrastructure V is currently approximately 60-65 percent invested, subject to customary regulatory approvals (including closed and/or signed investments, announced public offers, if applicable, and less any expected syndication).

Christian Sinding, CEO and Managing Partner, added: “EQT Infrastructure has over the years evolved into a truly global platform that is actively developing mission-critical infrastructure assets that provide essential services to societies around the world.

“The closing marks yet another milestone on this journey, and it will allow EQT Infrastructure to continue to execute on sustainable transformation within its core sectors.”

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