Finnish PE/VC News
eQ PE VIII North – Second Close Held – Total Commitments Exceed 85 Million
eQ PE VIII North private equity fund held a second closing on April 15th raising over 34 million euros. At second closing total commitments now exceed 85 million euros. 18 limited partners committed in the second closing and the fund now has a total of 36 limited partners. Fund raising continues through spring and final closing will be held in June 2016. The fund has already commenced investing activities with three commitments out of which one is a secondary investment. There are currently already over ten underlying investee companies in the fund.
The eQ PE VIII North-fund invests in lower mid-market buyout funds investing in unlisted small and medium-sized companies operating in Northern Europe. The portfolio will comprise of 10-12 portfolio funds investing across different industries, geographies and stages and consist of both primary and secondary transactions. The fund is targeted to be fully deployed in 24 months.
Staffan Jåfs, Head of Private equity, comments:
“Our 7-person team is very experienced and has been selecting fund managers in Northern Europe for a combined 80 years. Our track record from investing into more than 80 funds with this focus is very strong. Thanks to our long-term market presence, our vast network provides us with access to most of the best performing managers who are difficult to access for new investors entering the asset class. We believe local presence is a competitive advantage in terms of deal sourcing and we prefer country-specific, independent managers. We select managers based on their previous track record of generating strong, realized returns. We also encourage fund managers to invest into their own funds to align interest with us and our investors.
With low interest rates and more volatile stock markets, investors are increasing their allocations to alternative investments. Private equity provides consistent and high returns regardless of market cycles for long-term investors, for whom liquidity is not an absolute necessity.”
Helsinki 18 April 2016
eQ Asset Management Ltd
For additional information:
Staffan Jåfs, Head of Private equity, eQ Asset Management Ltd, phone: +358 (9) 6817 8736
eQ Group is a Finnish group of companies specialising in asset management and corporate finance business. eQ Asset Management offers a wide range of asset management services (including private equity funds and real estate asset management) for institutions and individuals. The assets managed by the Group total approximately EUR 7.6 billion. Advium Corporate Finance, which is part of the Group, offers services related to mergers and acquisitions, real estate transactions and equity capital markets.
More information about the Group is available on our website at www.eQ.fi.