EQT raises €2.3bn

The Stockholm-headquartered investment firm closes second mid-market credit fund well above target.

EQT Mid-Market Credit II has held a final close with €2.3 billion in capital commitments and anticipated leverage. The fund, which raised more than double its original target of €1 billion, will continue to pursue EQT’s strategy of providing financing solutions to European mid-market companies. At final close it had invested in 12 companies, including Medifox, Dukes Education and VPS.

Existing and new investors committed to the fund, with LPs from across Europe, Asia and North America including pension funds, insurance companies, endowments, foundations and family offices. The Houston Firefighters’ Relief and Retirement Fund was among these investors, committing €20 million.

The fund is more than four times as big as its predecessor fund, which closed on €530 million in 2016.