EQT closes Mid-Market Credit II at EUR 2.3bn and strengthens position in European direct lending business
EQT has closed its second European direct lending fund, EQT Mid-Market Credit II (the “Fund”). The fund received capital commitments of € 2.3 billion, including expected leverage. Since its founding in 2008, the EQT Credit Platform has raised more than € 6 billion and invested over € 5.1 billion in more than 170 companies.
The Fund will continue to pursue EQT Credit’s successful investment strategy and provide financing to European SMEs. The focus is on high-quality and defensive companies. More than 30% of the fund volume is already committed to 12 investments, including financing for Medifox, Dukes Education and VPS.
The investors in EQT Mid-Market Credit II include a broad group of European, Asian and North American pension funds, insurance companies, foundations and family businesses.
Paul Johnson, Partner at EQT Partners, the Fund’s Investment Advisor, says, “We see many opportunities in the credit market and believe that EQT Credit’s strengths as a due diligence focused investor are backed by the institutional knowledge gained through 24 years of EQT’s investment experience In the same regions and industries, we have an excellent starting position. With strong support from existing and new investors, the fund will be able to capitalize on these opportunities over the coming years as the direct credit market continues to grow throughout Europe. “
Andrew Konopelski, Partner and Head of EQT Credit at EQT Partners, adds, “Over the past decade, we have focused on local sourcing and careful consideration of each investment opportunity at EQT Credit. This approach is supported by our network of industrial consultants and our ability to invest in a variety of situations. The EQT Credit platform has evolved significantly, and we are looking at ways to further transform and expand the offering. “
“The EQT Credit Platform is extremely successful and complements EQT’s offering across the spectrum of alternative investments. The fund has far outperformed its original target, confirming the attractiveness of this asset class to investors and their support and trust in EQT and EQT Credit. EQT Credit’s track record over the last decade and its experienced investment team headed by Andrew Konopelski are the foundation for EQT’s strong position as an integrated investor across the full range of risk profiles, “said Thomas von Koch, CEO and Managing Partner at EQT ,
Fundraising for EQT Mid-Market Credit II is now complete. Accordingly, the foregoing should not in any way be construed as an offer or solicitation to subscribe for any securities or other interests or to engage in any other transaction.
This news release has been translated into several languages for informational purposes. In case of deviations, the original English version applies.
Source: EQT Partners Press Release