EQT has closed its first US mid-market fund on $726 million, falling short of the vehicle’s initial target of $1 billion. The Swedish firm, which invests primarily in Europe, plans to use the EQT Mid Market US fund to back American companies in high-growth sectors; it’s already deployed capital from the vehicle to acquire FocusVision, a provider of marketing research services, and XP Solutions, a developer of drainage and flood-hazard software.
In all, EQT has completed 18 transactions in the US since the start of 2013—placing the firm squarely among the most active European PE investors in American companies, according to the PitchBook Platform. Those sorts of transatlantic deals were on the rise each of the past two years, climbing from 230 in 2013 to 319 in 2015; this year is on pace to roughly match the 286 deals in 2014. The top investors come from a wide range of European nations, with firms based in Sweden, Switzerland, the UK, the Netherlands, France and Luxembourg all ranking below.
Here are the most active European PE firms in US companies since the start of 2013, including add-ons: