EQT, an investment firm, has held its first and final close for EQT Infrastructure IV at its hard cap of €9 billion ($10.1 billion). The fund launched in September 2018.
The majority of the commitments were made by investors in the predecessor fund, EQT Infrastructure III, which closed at its €4 billion ($4.5 billion) hard cap in February 2017.
EQT Infrastructure IV will continue to follow the industrial approach to infrastructure investing that has been applied by EQT Infrastructure since its inception in 2008. The fund will seek to continue its historically successful strategy of investing in strong-performing infrastructure companies with the potential for significant value creation in sectors with suitable infrastructure characteristics and favorable market trends. The fund will make primarily equity or equity-related investments typically ranging between €100 million ($113 million) and €600 million ($677 million) where the fund will either hold control or co-control positions or otherwise be capable of exercising a significant influence. The fund will continue to invest in the core geographies of Europe and North America and may opportunistically explore opportunities in Asia Pacific. The fund will primarily focus on making investments in the energy, transport and logistics, telecommunication, environmental and social infrastructure sectors.
The fund has made two investments to date: Saur, a French drinking and waste water management company, and Osmose Utilities Services, a provider of critical inspection, maintenance and restoration services for utility and telecommunication infrastructure in the United States.
EQT Infrastructure IV is backed by a global blue-chip investor base consisting of, among others, pension funds, insurance companies, sovereign wealth funds, financial institutions, endowments, foundations and family offices.
With the closing of the fund, EQT has approximately €14 billion ($15.8 billion) in infrastructure assets under management.
