Q3 2024 EQT AB Earnings Call Transcript

Oct 17, 2024 / 06:30AM GMT

Transcript

Key Points

Positve

EQT AB (EQBBF) launched the BPEA IX Asia flagship fund with a target size of $12.5 billion, marking a 20% increase from its predecessor.
The company reported strong fundraising activities, with EQT Infrastructure VI nearing EUR17 billion in commitments and EQT Active Core Infrastructure closing at over $3 billion.
EQT AB (EQBBF) achieved EUR6 billion in investments during Q3, demonstrating a robust investment pipeline.
The company strengthened its platform by adding over 60 team members, primarily in private wealth, enhancing its operational capabilities.
EQT AB (EQBBF) is actively pursuing exits, with more than 20 exit events this year, showcasing its ability to generate liquidity for clients.

Negative

Despite strong fundraising, EQT AB (EQBBF) faces challenges with a few pockets of underperformance in its portfolio.
The company acknowledges that exit volumes are dependent on market conditions, which remain uncertain due to geopolitical and economic factors.
EQT AB (EQBBF) has a significant portion of its portfolio still in value-creation mode, indicating that many assets are not yet ready for exit.
The fundraising market has been challenging since 2020, affecting the pace and scale of new fund launches.
The company faces potential risks from geopolitical uncertainties and trends towards deglobalization, which could impact investor confidence and market conditions.

Olof Svensson

EQT AB - Head of Shareholder and Bondholder Relations

Good morning, everyone, and welcome to the presentation of EQT's Q3 announcements 2024. As always, if you've registered ahead of the call, you should have received an email with your personal PIN code to participate in the Q&A. Next slide, please.

Let me start by briefly summarizing the third quarter. In terms of fundraising, we launched EQT (Trades, Portfolio) Asia flagship fund BPEA IX with a target size of $12.5 billion, a 20% increase compared to the predecessor fund. EQT Infrastructure VI fundraising continued with close to EUR17 billion, so closeout commitments to date, and we had final close in EQT Active Core Infrastructure at more than $3 billion. In total, we had gross inflows of about EUR3 billion, including

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