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EQT raises $18.2bn for global infrastructure fund

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Laxman Pai, Opalesque Asia:

The fifth-largest infrastructure manager in the world EQT has raised €15.7bn ($18.2 billion) for its latest global infrastructure fund.

The Swedish Investment firm said in a press release that the fundraising for the EQT Infrastructure V fund, which had a €15bn hard cap target, resulted in a 99% re-up rate from the predecessor fund based on committed capital and 68% based on the number of investors.

Investors in the fund include the $21.5 billion Orange County Employees Retirement System, Santa Ana, Calif., which committed $75 million; and the $23.7 billion Montana Board of Investments, Helena, which committed $50 million.

Lennart Blecher, Head of Real Assets’ Advisory Teams and Deputy Managing Partner, said, “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 is focused on the energy, transport, and logistics sectors, as well as environmental, digital, and social infrastructure.

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.”

The investments are in line with EQT Infrastructure’s strategy of backing companies that provide essential services to society and can make a positive impact in their respective sectors, said the release.

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.