eQ PLC INVESTOR NEWS
22 April 2014, at 12:30 p.m.
eQ PE VI NORTH –PRIVATE EQUITY PROGRAM HOLDS 2ND CLOSE AT EUR 84 MILLION
The size of the eQ PE VI North –private equity investment program established by eQ Asset Management in October 2013, grew to EUR 84 million on 17 April 2014, as the eQ PE VI North –fund held its second closing.
The eQ PE VI North –investment program will invest in funds investing in small and midsized companies operating in Northern Europe. The program will make commitments to both new funds as well as acquire positions in existing funds through the secondary market. The investment program has started rapidly and commitments have already been made to seven funds, out of which five are secondary transactions.
The fund raising period will continue and the final close is expected to occur before end of June 2014, the target size of the program is € 100 million.
Staffan Jåfs, head of private equity at eQ Asset Management comments: ”In a low interest environment and as stock markets have developed positively for quite some time, the attention of investors is increasingly turning to alternative investments. Our new program strengthens our position as a leading fund manager in the Finnish private equity market. The program has been well received in the market, particularly among endowments, and we are pleased to have five new investors committing to the fund. We provide our investors an entry to unlisted, fast-growing and profitable companies active in Northern Europe, whose expected return is higher than those publically listed. As the distribution of returns between the poorest and best performing managers is wide – manager selection is of utmost importance. eQ’s private equity team has an excellent track record and a long history of finding the best-performing managers and through our long-standing manager relationships we have ensured access to the best, local funds within our target region.”
Helsinki, 22 April 2014
Staffan Jåfs, Head of private equity (eQ Asset Management Ltd.), +358 (0)9 6817 8736
Additional information: Staffan Jåfs, Head of private equity, +358 (0)9 6817 8736
Distribution: NASDAQ OMX Helsinki, www.eQ.fi
eQ Group is a Finnish publicly listed group of companies that specialises in asset management and corporate finance operations. eQ Asset Management offers a wide range of asset management services (including private equity funds) for both institutional investors and private individuals. The assets managed by the Group total approximately EUR 6.7 billion. Advium Corporate Finance Ltd, 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.