EQT’s mid-market growth fund closes at $1.6b

This exceeds the original target size of $750m.

EQT has announced the successful final close of its BPEA EQT Mid-Market Growth Partnership (MMG Fund) at a total fund commitment of $1.6b, with $1.4b earmarked as fee-generating. This achievement surpasses the original target size of $750m.

The fund, focused on high-growth mid-market companies across Asia, aims to address the region's financing gap and capitalise on its potential for global growth. Despite this, Asia's private markets remain relatively underserved, receiving only 9 percent of global capital raised in 2023.

Building upon EQT Private Capital Asia's established large-cap buyout strategy, MMG represents a scaled pan-Asian investment strategy dedicated to mid-market control buyouts. With a thematic investment approach targeting technology, services, healthcare, and technology services sectors, MMG leverages EQT's pan-Asian presence, with over 100 investment professionals across eight offices, prioritising markets like India, Southeast Asia, Japan, and Australia.

“We have been investing in Asia for the best part of three decades and now have a fully-scaled and established large-cap platform,” said Jean Salata, chairman of EQT Asia and Head of the EQT Private Capital Asia advisory team. “Following this growth, we found that we no longer had a dedicated pool of capital to invest in compelling mid-market companies.”

Nicholas Macksey, partner in the EQT Private Capital Asia advisory team leading the Mid-Market Growth strategy, added: “The team has hit the ground running with this new fund, having made four investments to date. In a testament to the dynamism of Asia’s mid-market segment, as well as our scale and network, the pipeline is strong and we’re excited for what’s ahead.”