Sale of EQT Credit to Bridgepoint completed
STOCKHOLM, Oct. 26, 2020 /PRNewswire/ -- Following the signing of a definitive agreement in June 2020 to sell the Credit business segment to Bridgepoint (the "Transaction"), EQT AB ("EQT") today announces that the Transaction has been completed. All necessary closing conditions, including regulatory, anti-trust and fund investor clearances, have been achieved. The Transaction concludes the review of future strategic options for the business segment and gives Credit a new owner to support its growth prospects. It also permits EQT to further focus its efforts on building scalable value-add strategies focused on active ownership.
The proceeds will be used to continue to deliver on EQT's defined growth strategy. The Credit business segment was reported as discontinued operations in the half year 2020 report.
JP Morgan has acted as financial advisor and Kirkland & Ellis and Travers Smith as legal advisors to EQT on the Transaction.
EQT is a purpose-driven global investment organization with a 25-year track-record of consistent investment performance across multiple geographies, sectors, and strategies. EQT has raised more than EUR 75 billion since inception and currently more than EUR 46 billion in assets under management across 16 active funds within two business segments - Private Capital and Real Assets.
With its roots in the Wallenberg family's entrepreneurial mindset and philosophy of long-term ownership, EQT is guided by a set of strong values and a distinct corporate culture. EQT manages and advises funds and vehicles that invest across the world with the mission to future-proof companies, generate attractive returns and make a positive impact with everything EQT does.
The EQT AB Group comprises EQT AB (publ) and its direct and indirect subsidiaries, which include general partners and fund managers of EQT funds as well as entities advising EQT funds. EQT has offices in 17 countries across Europe, Asia Pacific and North America with more than 700 employees.
This information was brought to you by Cision http://news.cision.com
The following files are available for download:
Company Codes: ISIN:SE0012853455, RICS:EQT.ST, Stockholm:EQT
© 2020 PR Newswire. All Rights Reserved.