(Bloomberg) -- Swedish private equity firm EQT AB tripled investments in the third quarter as strong levels of deal flow were underpinned by an improvement in capital markets activity.
Total investments by EQT funds in the three months to the end of September jumped to €6 billion ($6.5 billion), up from €2 billion in the same period last year, driven by positive trends across regions and strategies, according to a statement on Thursday.
EQT said investments included a Swiss cybersecurity firm, a waste management company in South Korea and a health-care technology provider in India. The Stockholm-based firm says it has had one of its most active years ever so far, investing €18 billion.
Fund exits also accelerated in the quarter, rising to €3 billion from €2 billion a year ago. EQT said it had taken advantage of “improving market dynamics” to pursue full exits, equity sell-downs and minority stake sales.
Such improving market conditions are providing a welcome respite to private equity firms, which have faced pressure following a long slump in dealmaking. EQT said it is gearing up for a “busy” pipeline, expecting to launch fundraisings totaling about €100 billion over the next cycle.
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