eQ reaches 1 bn USD milestone for its North American private equity strategy

Press release
12 December 2023 09:00 am

eQ Asset Management has held a final close for its fifth North American lower middle market -focused fund, eQ PE XV US, at 283 musd. The final close was held at 30 November 2023 and takes the cumulative amount raised since 2015 for eQ US lower middle market funds to 1 bn.

Special investment fund eQ PE XV US will commit to private equity funds who invest in private lower middle market companies in the US and Canada. The portfolio will consist of 11-12 funds providing broad sector and geographic diversification across some 200 portfolio companies. eQ is the fund manager and RCP Advisors is the investment advisor for all five eQ PE US -funds.

Further, eQ has held a first close on its second venture capital fund. eQ VC II raised 20 musd at the first close and fund raising will continue in 2024. The fund will commit to both early and late stage venture capital funds who invest in more than 500 technology companies predominantly in the US. The portfolio is expected to include ten primary funds and in addition secondary investments and co-investments will be made. eQ acts as the fund manager and Truebridge Capital Partners is the investment advisor.

Staffan Jåfs, head of private equity, comments:
”eQ has raised more than 1 bn USD for its US-focused private equity funds to date. The co-operation with our partner RCP has continued seamlessly for close to ten years. Having a local, experienced partner is a prerequisite for identifying and securing allocation to top-performing, hard-to-access funds. During our co-operation we have committed to more than 50 portfolio funds and value creation in our mature funds is very concrete. The manager selection of eQ PE XV US is well underway with 40% committed already. We are also very pleased to raise fresh funds for our second venture capital -fund, where fund raising will continue in 2024. The valuation of new financing rounds has corrected significantly from the 2022 beginning of the year highs and provides a very compelling investment environment for start-up investors with capital available.”

eQ Asset Management´s AuM was 12.8 bn euros per 30 September 2023, out of which 4 bn euros were in eQ’s private equity funds and discretionary client portfolios. eQ establishes new private equity funds every year, alternating between Europe and North America. eQ’s private equity funds are marketed to professional investors only.

Helsinki 12 December 2023

eQ Asset Management Ltd

Further information:
Staffan Jåfs, head of private equity, eQ Asset Management Ltd
+358 (9) 6817 8736, [email protected]

eQ Group is a group of companies that concentrates on 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 private individuals. The assets managed by the Group total approximately EUR 12.8 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 www.eQ.fi.