Fundraising - FEBRUARY 23, 2017

EQT holds €4b final close

by Andrea Waitrovich

EQT’s third infrastructure fund, EQT Infrastructure III, closed Feb. 21 at the hard cap of €4 billion ($4.23 billion). The fund was raised in less than six months, which is the fastest fundraise in EQT’s history.

EQT Infrastructure III will follow EQT’s overall infrastructure investment strategy — applying an industrial approach to infrastructure investing — and continue to make investments in sectors such as energy, transport and logistics, environmental, telecommunications, and social infrastructure, mainly in Europe and North America.

“We believe that there is continued demand for infrastructure investments that will bring attractive market opportunities,” said Lennart Blecher, deputy managing partner and head of real assets at EQT Partners, in a statement.

The fund has signed four acquisitions already: GlobalConnect A/S, the leading alternative provider of B2B data communication services in Denmark; a strategic partnership with the German energy service solutions provider GETEC ENERGIE HOLDING GmbH under a newly formed joint venture company; Delta Comfort, the leading telecommunications infrastructure company and supplier of energy in the Dutch province of Zeeland; and Lumos Networks, a leading fiber-based data and broadband service provider in the U.S. mid-Atlantic region.

EQT Infrastructure II closed in 2013 with €1.925 billion ($2.04 billion) in equity commitments. The fundraising was completed after 11 months, with a first close June 29, 2012.

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