EQT AB (publ) Quarterly Announcement Q4 2019

- Good exit activity in the fourth quarter. Strategic options for Credit being evaluated. 

STOCKHOLM, Jan. 23, 2020 /PRNewswire/ --

HIGHLIGHTS DURING THE FOURTH QUARTER 2019        

• Total investments by the EQT funds in the quarter amounted to EUR 1.9bn    
• Private Capital: Investments include, among others, SHL Medical in Switzerland and Recover Nordic in Norway (both in EQT VIII)
• Real Assets: Investment in Metlifecare in New Zealand (EQT Infrastructure IV)
• Credit: Investments across Special Situations, Direct Lending and Senior Debt 
  
• Total gross fund exits in the quarter amounted to EUR 2.4bn and were mainly within Private Capital
  
• EQT Ventures II closed at approximately EUR 620m in fee-generating AUM. Other fundraising efforts in the period focused on EQT Real Estate II and preparations for EQT IX
  
• Expected value creation (Gross MOIC) developing "On plan" in key funds in Private Capital and Real Assets, while EQT Infrastructure III as of December 31, 2019, continued to develop "Above plan"             

HIGHLIGHTS DURING 2019 (JAN - DEC 2018)

• Good investment activity across the EQT funds with total fund investments of EUR 11.9bn (EUR 8.6bn), of which EUR 2.3bn (EUR 1.1bn) within Credit
  
• Investment level in key funds as of December 31, 2019: 70-75% in EQT VIII (30-35% as of December 31, 2018) and 55-60% in EQT Infrastructure IV (5-10% as of December 31, 2018)
  
• Good exit activity with EUR 8.0bn (EUR 5.1bn) in total gross fund exits across the EQT funds, of which EUR 1.1bn (EUR 1.0bn) within Credit 
  
• Fee-generating AUM increased to EUR 39.9bn as of December 31, 2019 (EUR 36.6bn). This was primarily driven by the successful closing of EQT Infrastructure IV with a final close in March 2019
  
• Number of full-time equivalent employees and on-site consultants (FTE plus) amounted to 706 (601) at the end of the period, of which FTEs amounted to 645 (527)          

EVENTS AFTER THE REPORTING PERIOD

• Investment level in key funds as of January 23, 2020, were 70-75% in EQT VIII and 60-65% in EQT Infrastructure IV
  
• The target size for the EQT IX fund has been set at EUR 14.75bn
  
• EQT has initiated a review of future strategic options for the business segment Credit     
• The growth prospects of Credit are in avenues further away from EQT's core business of active ownership where EQT can make a strong impact and fully utilize the EQT platform
• JP Morgan has been appointed as financial advisor to evaluate strategic options for Credit

Presentation of EQT AB's Q4 2019 announcement
A telephone conference which will be held at 08:30 CET. Presentation materials for the telephone conference will be available on www.eqtgroup.com/shareholders/financial-reporting

At the telephone conference, Christian Sinding, CEO and Managing Partner, Caspar Callerström, COO, and Kim Henriksson, CFO, will present EQT AB's Q4 announcement in English, followed by a Q&A session also joined by Åsa Riisberg, Partner & Head of Shareholder Relations and Pawel Wyszynski, Shareholder Relations Officer.

To participate, please use the following dial-in details below, at least 10 minutes in advance.
Sweden: +46-8-566-42-651
UK: +44-333-300-0804
USA: +1-631-913-1422
Confirmation Code: 27944395

The telephone conference can be followed live on www.eqtgroup.com/shareholders/financial-reporting and a recording will also be available afterwards. 

Information on EQT AB's financial reporting
The EQT AB Group has a long-term business model founded on a promise to its fund investors to invest capital, drive value creation and create consistent attractive returns over a 5 to 10-year horizon. The Group's financial model is primarily affected by the size of its fee-generating assets under management, the performance of the EQT funds and its ability to recruit and retain top talent.

The Group operates in a market driven by long-term trends and thus believes quarterly financial statements are less relevant for investors. However, in order to provide the market with relevant and suitable information about the Group's development, EQT will publish quarterly announcements with key operating numbers that are relevant for the business performance (taking Nasdaq's guidance note for preparing interim management statements into consideration). In addition, a half-year report and a year-end report including financial statements and further information relevant for investors will be published. Finally, EQT will also publish an annual report including sustainability reporting.

Please note that the EQT AB's Year-end Report 2019 will be released on the 12th of February 2020.

This is information that EQT AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 07:30 CET on January 23, 2020 

About EQT
EQT is a differentiated global investment organization with a 25-year track-record of consistent investment performance across multiple geographies, sectors and strategies. With strong values and a distinct corporate culture, EQT manages and advises funds and vehicles that invest across the world with the mission to generate attractive returns to the fund investors.

EQT's talent base and network allow it to pursue a unique value creation approach and thematic investment strategy, with the aim of future-proofing the companies which EQT invests in, creating superior returns and making a positive impact with everything EQT does.

EQT has more than EUR 62 billion in raised capital since inception, currently around EUR 41 billion in assets under management across 19 active funds within three business segments - Private Capital, Real Assets and Credit. EQT is a thought leader within the private markets industry with deep expertise in responsible and long-term ownership, corporate governance, operational excellence, digitalization and sustainability. EQT has offices in 15 countries across Europe, Asia Pacific and North America with more than 700 employees.

The EQT AB group comprises EQT AB (publ) and its direct and indirect subsidiaries, which includes general partners and fund managers of EQT funds as well as entities advising EQT funds.

More info: www.eqtgroup.com
Follow EQT on Twitter and LinkedIn

Contact
Åsa Riisberg
Partner & Head of Shareholder Relations
+46-8-506-55-342

Nina Nornholm
Head of Communications
+46-70-855-03-56

Pawel Wyszynski
Shareholder Relations Officer
+46-72-987-36-44

EQT Press Office
[email protected]
+46-8-506-55-334

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