EQT posts record year following IPO
February 14, 2020- Share:
Around five months after listing in Stockholm, EQT has reported its best year. The firm generated revenue of €606 million in 2019, up 54% from the previous year. Adjusted EBITDA and net income also rose to €275 million and €213 million, respectively. EQT reported assets under management of €39.9 billion at the end of the year, an increase of €3.3 billion from 2018.
Last year also saw EQT close its largest infrastructure fund on €9 billion, as well as a second venture capital vehicle, EQT Ventures II, which raised €620 million in November. The firm also gave details of the investment performance of its latest flagship fund, EQT VIII, which generated a multiple on invested capital of 1.1x (2018: 1.0x).
During the year, EQT invested approximately €12 billion across its segments. Deals included the reported €1 billion takeover of German fiber-optic network provider Inexio and US-based infrastructure telecom business Zayo, which the firm agreed to acquire alongside Digital Colony Partners for some $14.3 billion, including debt.
Total exits amounted to a record €8 billion, driven by the likes of healthcare business Press Ganey, which was sold to Ares Management and Leonard Green & Partners. EQT also exited AutoStore to Thomas H. Lee Partners, which the investor claims delivered the highest return in the EQT Equity funds in more than ten years.
EQT's share price rose around 6% following the publication of its results to close on 145.90 Swedish kronor (around €13.90).
Last year also saw EQT close its largest infrastructure fund on €9 billion, as well as a second venture capital vehicle, EQT Ventures II, which raised €620 million in November. The firm also gave details of the investment performance of its latest flagship fund, EQT VIII, which generated a multiple on invested capital of 1.1x (2018: 1.0x).
During the year, EQT invested approximately €12 billion across its segments. Deals included the reported €1 billion takeover of German fiber-optic network provider Inexio and US-based infrastructure telecom business Zayo, which the firm agreed to acquire alongside Digital Colony Partners for some $14.3 billion, including debt.
Total exits amounted to a record €8 billion, driven by the likes of healthcare business Press Ganey, which was sold to Ares Management and Leonard Green & Partners. EQT also exited AutoStore to Thomas H. Lee Partners, which the investor claims delivered the highest return in the EQT Equity funds in more than ten years.
EQT's share price rose around 6% following the publication of its results to close on 145.90 Swedish kronor (around €13.90).
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