26 January 2021, 10:00 am
eQ Asset Management raised 131 million USD for eQ PE XIII US at the fund’s first closing. The previous US fund, eQ PE XI US, raised 113 million USD at its first closing in 2019. eQ PE XIII US will continue fundraising throughout spring 2021 with a final closing scheduled for June 2021.
Special Investment Fund eQ PE XIII US will make commitments to private equity funds investing in unlisted lower middle market companies located in the United States and Canada. The portfolio will include 12-15 mainly sector specific funds, investing in more than 150 companies diversified across several sectors and states.
eQ launched its cooperation with RCP Advisors based in Chicago in 2015. eQ PE XIII US is the fourth fund co-managed with RCP, a firm founded in 2001 and specialized in unlisted lower middle market investments in North America. RCP has deep experience in this area and a well-resourced organisation. In total, eQ has raised over 530 million USD for its US private equity strategy.
Staffan Jåfs, Head of Private Equity, comments:
”eQ has been very satisfied with the cooperation with RCP. Our previous funds have been invested according to plan and exhibit strong return potential. An experienced, local partner is vital in finding the best-performing funds and securing allocations in the world’s largest private equity market. RCP has proven their capability and met our expectations in full. Many of our clients continue to increase their private equity allocations and North America is an interesting investment opportunity. The new fund started investing immediately upon launch with two commitments and the pipeline includes many hard-to-access managers with excellent track records.”
At 30 September 2020, eQ Asset Management’s assets under management totalled 8.7 bn euros out of which 1.9 bn euros in private equity funds. eQ raises new funds every year, alternating between Europe and North America. eQ’s previous Europe-focused funds (eQ PE XII North and eQ PE SF III) raised a combined 375 million euros in 2020.
Helsinki 26 January 2021
eQ Asset Management Ltd
For additional information:
Staffan Jåfs, Head of Private Equity, eQ Asset Management Ltd
+358 (9) 6817 8736, staffan.jafs@eQ.fi
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 8.7 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.