High on top of Stockholm’s horizon, Sweden’s EQT Partners is planning to plot an additional chapter in its speedy development from a Nordic-focused shareholder to the seventh-largest buyout firm in the world. At the same time, the firm is focused on its development in the Asia Pacific region. With about $45 Billion under management, EQT has managed to quietly transform itself since its establishment in 1994 from an investment section for Sweden’s leading Wallenberg family into Europe’s 2nd-biggest PE (private equity) fund after Britain’s CVC.
In March, EQT raised a huge amount of about 9 Billion Euros. Reportedly, this money is intended for its fourth infrastructure fund. In May, the firm paid about $8.2 Billion for Zayo, a U.S. fiber network firm and about $10 Billion for skincare unit from Nestle. This is said to be the firm’s largest agreement to date.
On a similar note, Quantum Asset Management Company came into the news as it rolled out its foremost open-ended ESG (Environment, Social, and Governance) fund. The firm has named it as the QESG (Quantum India ESG Equity Fund). The latest fund offer is supposed to be open for subscription from June 21st to July 5th, 2019. Reportedly, this fund will be jointly managed by Sneha Joshi, Associate Fund Manager, Alternative Investments, and Chirag Mehta, Senior Fund Manager, Alternative Investments.
A press release by the fund house highlights that the QESG is supposed to invest mainly in stocks of Indian firms. The investment plan of the scheme will be to show investment in a basket of stocks following demanding analysis of their environment, social, and governance practices/standards, highlighted the fund house. Jimmy Patel, who works as the MD & CEO of Quantum Mutual Fund proclaimed that the firm is ahead of its time in identifying the requirement for a clean and green Equity Fund.