EQT has held a final close for EQT Real Estate II fund with equity commitments totaling €1 billion. Capital was raised from a diversified group of investors across Europe, the Nordics, Asia, North America and the Middle East.
The fundraise of EQT Real Estate II exceeded its target size of EUR 750 million and, at EUR 1 billion, is more than 2.5 times larger than its predecessor fund, EQT Real Estate I.
The Fund will seek to make direct and indirect controlling investments in real estate assets, portfolios, operating companies and joint ventures and will target equity investments ranging in size from EUR 40 million up to EUR 200 million.
Robert Rackind, Partner and Head of EQT Real Estate, commented: “We would like to thank all of the investors – both new and existing – for their support of EQT Real Estate II. As we are entering a new investment cycle, we see a strong pipeline of attractive value-add investment opportunities that fit EQT Real Estate’s thematic approach to investing primarily into Europe’s key cities and in particular in our current focus on ‘beds’ and ‘sheds’ assets that are benefitting from positive growth drivers and secular trends.”
Lennart Blecher, Deputy Managing Partner and Head of EQT Real Assets, added: “The high demand that EQT Real Estate II received from a truly global blue-chip investor base is a testament to the compelling combination of EQT’s platform and our Real Estate Advisory Team’s proven real estate expertise. EQT’s ability to cross-pollinate market knowledge, draw on expertise in key areas like sustainability and share networks across our platform is an excellent complement to EQT Real Estate’s in-house talent.”
Christian Sinding, CEO and Managing Partner at EQT, commented: “Real estate is one of the most exciting growth areas for EQT and the success of this fundraise is a reflection of EQT Real Estate’s ability to source attractive opportunities and then develop sustainable, future-proofed assets, while delivering strong results to its investors. We look forward to continuing to build on that success.”