EQT Real Estate II, managed by EQT Real Estate, has completed a final close at €1 billion ($1.2 billion), exceeding its target size of €750 million ($878 million).
The fund is more than two-and-a-half times larger than its predecessor, EQT Real Estate I, and saw robust demand from both existing and new investors, such as public and corporate pension funds, insurance companies, sovereign wealth funds, global asset management firms, commercial banks, endowments and foundations, private wealth channels and family offices.
The investor base was diversified, with investors coming from Europe, the Nordics, Asia, North America and the Middle East.
EQT Real Estate II will seek to make direct and indirect controlling investments in real estate assets, portfolios, operating companies and joint ventures and will target equity investments ranging in size from €40 million ($46 million) to €200 million ($234 million).
“As we are entering a new investment cycl
