The Swedish PE firm EQT has closed its fourth infrastructure fund of EUR 9bn, according to Dagens Industri.
Investors in the new fund are mainly international institutional investors with a record of former investments in EQT funds.
Lennart Blecher, who is a partner at EQT and started up the infrastructure business ten years ago, tells the Swedish newspaper that EQT did not ask investors for more than 9bn euro.
"There is a vast supply of investment opportunities. Around the world, there is a huge demand to streamline the operation of infrastructure," he says.
Which direction the fund will take is not clear:
"EQT is trying to be opportunistic and and let trends decide investments. Same as we have done over the past 20 years and it has yielded significantly higher returns. Logistics and transportation are still trending as world trade is increasing with the growing population. EQT is studying some larger investment opportunities like container terminals," Lennart Blecher says.
The PE firm's first three infrastructure funds have been focused on respectively power industry, transport & freight industry and fiber industry.