EQT said Dec. 10 that its second European direct lending fund has closed on 2.3 billion euros ($2.63 billion). EQT Mid-Market Credit II will provide financing solutions to European mid-market companies. Thirty percent of the fund has already been committed.
EQT Mid-Market Credit II holds final close at EUR 2.3 billion – increasing EQT Credit’s presence in European direct lending
- The EQTMid-Market Credit II fund successfully closes at EUR 2.3 billion of available capital, including anticipated leverage – more than four times the size of its predecessor direct lending fund, EQT Mid-Market Credit
- Continuation of the diligence-led investment strategy succcessfullydeployed by the EQTCredit platform since its inception in 2008
- Strong support from existing investors and new investors to both EQTandEQT Credit, resulting in a diversified blue-chip investor base of pension funds, insurance companies, family offices and foundations across Europe, North America and Asia
EQT today announces the final closing of its second European direct lending fund, EQT Mid-Market Credit II (the “Fund”). The Fund received commitments equivalent to EUR 2.3 billion of available capital, including anticipated leverage. Since launch in 2008, the EQT Credit platform has raised over EUR 6 billion and invested over EUR 5.1 billion in over 170 companies.
The Fund will continue EQT Credit’s strategy of providing financing solutions to European mid-market companies, with a focus on high-quality performing businesses with defensive characteristics. Over 30% of the Fund has already been committed in 12 investments, including recent financings for Medifox, Dukes Education and VPS.
Investors in EQT Mid-Market Credit II include a diverse group of European, Asian and North American pension funds, insurance companies, endowments, foundations and family offices.
Paul Johnson, Partner at EQT Partners, Investment Advisor to the Fund, comments: “We are confident that the significant opportunities in the market play to EQT Credit’s strengths as a due diligence-focused investor with the ability to leverage the knowledge that resides in EQT having invested in the same geographies and industries over the last 24 years. Thanks to the strong support demonstrated by existing and new investors, the Fund is well positioned to capitalize on these opportunities over the coming years as the direct lending market continues to grow across Europe.”
Andrew Konopelski, Partner and Head of EQT Credit at EQT Partners, continues: “Our focus on local sourcing and diligence, supported by EQT’s network of Industrial Advisors, as well as the capacity to invest in a broad range of situations, has been key to EQT Credit’s investment approach over the last ten years. TheEQT Credit platform has developed significantly and we are looking into ways of transforming and broadening the offer even further.”
“The growth of the EQT Credit platform has been extremely successful and complements EQT’s offering across the entire spectrum of alternative investments. The Fund far exceeded its initial target, which further confirms investors’ appetite for this asset class as well as their support and trust for EQTand EQT Credit. With a strong ten-year track record in the market and an experienced investment advisory team led by Andrew Konopelski, EQT has firmly cemented its position as an integrated capital provider across the full range of risk profiles”, says Thomas von Koch, CEO and Managing Partner at EQT.
The fundraising for EQT Mid-Market Credit II has now closed. As such, the foregoing should in no way be treated as any form of offer or solicitation to subscribe for or make any commitments for or in respect of any securities or other interest or to engage in any other transaction.
This press release is translated into multiple languages for information purposes only. In case of a discrepancy, the English version shall prevail.
Andrew Konopelski, Partner and Head of EQT Credit at EQT Partners, +44 20 7430 5525
Paul Johnson, Partner at EQT Partners, +44 20 7430 5520
Jussi Saarinen, Partner and Head of Investor Relations at EQT Partners, +46 8 506 55 368
Carlota Sanchez-Marco, Managing Director, Investor Relations at EQT Partners, +34 674 345 701
EQT Press Office +46 8 506 55 334, firstname.lastname@example.org
About EQT Credit
The EQT Credit platform, which spans the full risk-reward spectrum investing with three strategies: senior debt, direct lending and credit opportunities, has invested over EUR 5.1 billion across over 170 companies since inception in 2008.
For more information: www.eqtpartners.com/Investment-Strategies/Credit
EQT is a leading investment firm with approximately EUR 50 billion in raised capital across 28 funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 19 billion and approximately 110,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.
For more information: www.eqtpartners.com