Fintech PR
EQT AB (publ) Q3 Announcement 2023
STOCKHOLM, Oct. 17, 2023 /PRNewswire/ — Differentiation and diversification at work
“In a global market environment that continues to be characterized by uncertainty, muted deal activity and fundraising headwinds, EQT had a productive third quarter. With a track record of nearly 30 years of delivering performance for our clients, our flagship fundraisings are progressing well. We are continuously refining our approach to value creation, and we have continued to build on our private wealth offering.”
Highlights for the period Jul-Sep 2023 (Jul-Sep 2022)
Strategic
- EQT launched EQRT (EQT Exeter Real Estate Income Trust)
- EQT Nexus was launched through additional distributors in the Nordics, Australia, and selected jurisdictions in Asia
Fundraising
- Fee-generating assets under management (FAUM) increased to EUR 128bn (EUR 92bn). Total AUM was EUR 232bn (EUR 165bn)
- Fundraising continued for EQT X with fee-generating commitments of EUR 19.8bn. EQT X is expected to close at or near its hard cap in Q1 2024
- EQT Infrastructure VI had its first close during the summer, with more than half the fund raised, and is next expected to complete further closings during the fourth quarter. Fundraising is set to continue well into 2024, and the fund is expected to reach its target fund size
- Fundraising continued for EQT Future, EQT Exeter US Multifamily Value II, EQT Exeter Europe Logistics Core-Plus II and EQT Active Core Infrastructure, with fundraisings generally taking longer in the current fundraising environment
Investment activity1
- Total investments by the EQT funds in the quarter amounted to EUR 2bn (EUR 3bn)
- Investments include Dechra Pharmaceuticals (EQT X), Indira IVF (BPEA VIII), the completion of the merger of Vistra and Tricor (BPEA VIII), the announced offer to take SUSE private (EQT VIII), and the investment in Gympass (EQT Growth)
Exit activity1
- Total gross fund exits in the quarter amounted to EUR 2bn (EUR 2bn)
- Exits include Schülke (EQT VIII), Coforge (BPEA VII) and LimaCorporate (EQT VII)
Investment performance
- All key funds continued to perform On plan or Above plan
- Fund valuations were for the most part flat during the period, underpinned by continued underlying operational performance
People and future-proofing
- The number of full-time equivalent employees and on-site consultants (FTE+) amounted to 1,832 (1,538), of which 1,752 (1,436) were FTEs
- Francesco Starace, former CEO and General Manager of Enel, who recently joined EQT as a Partner within the EQT Infrastructure Advisory Team, was appointed the chair of the Science Based Targets initiative
- Maarten de Jong and Mark Braganza joined EQT’s Private Capital Healthcare team as Partners, bolstering a global team of more than 120 dedicated healthcare investment professionals that is supplemented by an advisor network of over 150 experts with operating experience in the healthcare sector
- As of the end of the period, 25 portfolio companies had validated their science-based targets, and additionally 27 had started the process to set their own science-based targets
Other
- In the third quarter, EQT completed a share buyback program of 1.8 million shares. EQT intends – over time – to repurchase shares with the objective of keeping its share count stable in relation to its equity-based incentive programs
Events after the reporting period
- Investment levels in EQT key funds as of 17 October 2023, were 20-25% in EQT X, 15-20% in EQT Infrastructure VI and 35-40% in BPEA VIII
1) Signed transactions, if not otherwise mentioned
Presentation of EQT AB’s Q3 Announcement 2023
Financial analysts and media are invited to participate in a conference call, including a presentation at 08:30 CEST.
The presentation and a link to follow the webcast and conference call live can be found here and a recording will be available afterwards.
To participate by phone, please register here. You will then receive your personal dial-in details, to be able to ask questions during the Q&A.
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 publishes 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 is published. Finally, EQT also publishes an annual report including sustainability reporting.
Contact
Olof Svensson, Head of Shareholder Relations, +46 72 989 09 15
EQT Shareholder Relations, [email protected]
Rickard Buch, Managing Director, Communications, +46 72 989 09 11
EQT Press Office, press@eqtpartners.com, +46 8 506 55 334
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 persons set out above, at 07:30 CEST on 17 October 2023.
The following files are available for download:
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EQT AB – Q3 Announcement 2023 |
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EQT AB Group |
View original content:https://www.prnewswire.co.uk/news-releases/eqt-ab-publ-q3-announcement-2023-301958467.html
Championing innovation, impact and business excellence across China
SHANGHAI, Nov. 28, 2024 /PRNewswire/ — After months of rigorous applications and judging, the winners of the 2024 British Business Awards were announced during the Gala Ceremony on 22nd November at the Kerry Hotel Pudong, Shanghai.
Organised by the British Chambers of Commerce across China, the biennial awards celebrate outstanding achievements and highlight the vital contributions of businesses and individuals fostering strong economic ties between the UK and China. Featuring nine categories, the 2024 Awards drew 110 impressive submissions from a wide range of industries. More than 50 outstanding businesses and individuals were shortlisted during the first-round judging. The newly introduced online voting element garnered nearly 1.16 million public views, further amplifying the reach and engagement of this momentum occasion.
Dame Caroline Wilson DCMG, British Ambassador to China, said: “Business is a cornerstone of the UK-China relationship, and the British Business Awards are a testimony to British companies’ significant contribution to China’s development. Their achievements, successes and thriving eco-system also help drive economic growth and innovation in the UK.”
Kirsten Johnston, Chair of the 2024 British Business Awards, shared in her welcome remarks: “The British Business Awards, now in their 16th year, reflect the unwavering commitment of both British and Chinese businesses to driving progress, fostering collaboration, and making a lasting impact on our economies and societies. As we unveil the winners, I would also like to extend a heartfelt thanks to our 38 judges, who collectively contributed nearly 2,000 volunteer hours. Their hard work and expertise were critical to ensuring a rigorous evaluation process.”
2024 British Business Awards Winners：
Innovation Award
– sponsored by The University of Manchester China Centre
Smiths Group
Sustainability Award
– sponsored by the University of Nottingham Ningbo China
Smiths Group
Social Impact Award
– sponsored by ASCEND IT
Reckitt China
Education Partnership Award
– sponsored by The British Council
University of Nottingham Ningbo China
Business Partnership Award
– sponsored by GE5 Education
Wellington College China
Chinese UK Alumnus Award
– sponsored by BritCham Shanghai
Yinpeng Bao
OxSyns Biotech
Inspiring Leadership Award
– sponsored by BritCham Shanghai
Capt. Simon Hibberd
S. B. Submarine Systems Company Limited
Outstanding Contribution to the UK Award
– sponsored by BritCham Shanghai & China Chamber of Commerce in the UK
Agricultural Bank of China London Branch
British Company of the Year Award
– sponsored by Smiths Group
[Large Company]
Jaguar Land Rover (China) Investment Co., Ltd.
[Medium Company]
Silverstream Technologies (Shanghai) Limited
[Small Company]
The Hutong Education
The Gala Ceremony was also graced by Matt Burney CMG, British Consul-General, Shanghai, Sohail Shaikh, British Deputy Trade Commissioner for China, Cat Sinclair-Jones, Director East China, British Council, Peter Burnett OBE, BBS, CEO, China Britain Business Council. They were joined by representatives from British and Chinese governments, businesses, and media organisations, alongside over 330 distinguished guests. The event was chaired by Jasmine Pang, Director of European Affairs at Phoenix TV.
2024 Awards are supported by the Department for Business and Trade (DBT), the British Council, China-Britain Business Council (CBBC), Scottish Development International, Invest Northern Ireland, and the Chinese Chamber of Commerce in the UK. For more information, please visit www.britishbusinessawards.org
Live Album: https://live.photoplus.cn/live/pc/71303540/#/live
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View original content:https://www.prnewswire.co.uk/news-releases/2024-british-business-awards-winners-announced-in-shanghai-302318165.html
BEIJING, Nov. 28, 2024 /PRNewswire/ — A series of achievements was recently made at the Shanghai Jing’an “Global Service Provider Program” (GSPP) Promotion Conference and the 1st China Enterprise Globalization Development Professional Service Summit Forum held in Jing’an District of east China’s Shanghai.
A white paper on global service providers supporting Chinese enterprises to go overseas was released at the event, where the China office of the Globalization and World Cities (GaWC) published a report on the development index of Shanghai’s professional service industry.
The GSPP has so far included a total of 103 enterprises, after 11 companies were awarded as new members at the recent event.
In a bid to further expand the GSPP network, the Global Service Provider Council announced during the event to jointly establish the Go-Global Service Alliance with the Malaysian Chamber of Commerce and Industry in China, Shanghai Automotive Parts Industry Association, Shanghai Producer Services Promotion Association, Shanghai MedValley industrial park and Beijing-based risk warning agency ICOER.
Since the GSPP was initiated in 2019, Jing’an District has attracted a large number of high-level global service organizations.
The district, as a core cluster area of Shanghai’s professional service industry, hosts 39 out of 187 well-known professional service institutions worldwide, covering multiple fields including advertising, law, accounting, human resources and others.
A diversified professional service ecology has been formed in the district, driving a continuous increase in the number of regional headquarters of multinational companies and steady growth in foreign-related economic tax income.
Original link: https://en.imsilkroad.com/p/343321.html
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View original content:https://www.prnewswire.co.uk/news-releases/xinhua-silk-road-multiple-achievements-made-at-promotion-conference-held-in-shanghai-302318153.html
Fintech PR
Xinhua Silk Road: Wuxi Economic Development Zone makes efforts to optimize business environment
BEIJING, Nov. 28, 2024 /PRNewswire/ — Wuxi Economic Development Zone has been continuously optimizing its business environment by introducing favorable policies and improving services in recent years.
Founded in 2019, the zone continues to build a “4+3+X” modern industrial system, featuring four leading industries of advanced manufacturing, integrated circuits, the Internet of Things (IoT), and software and information, three characteristic industries namely headquarters economy, convention and exhibition economy, and high-end trade, and various future-oriented industries such as commercial aerospace, humanoid robots, and artificial intelligence (AI).
Focusing on the modern industrial system, the zone has made efforts in improving a variety of services, such as providing resources and policy support, to deal with the challenges faced by major projects. Therefore, it ensures the smooth launch and early operation of projects by pooling resources across the region, which contributes to a better business environment.
In addition, to foster the growth of emerging industries, the zone has given full play to the role of financing, establishing a number of funds centering around high-end chips, AI, and other sci-tech sectors.
This year, the zone has carried out multiple economic and trade exchange events in Japan, the United States, France and Germany, visited leading enterprises in the fields of AI, robotics, intelligent manufacturing, etc., and promoted in-depth cooperation between the zone and other countries in the field of cutting-edge science and technology.
Wuxi Economic Development Zone has made significant breakthroughs in attracting investment in recent years, introducing major projects such as the State Power Investment Corporation’s energy storage project and Minospace’s satellite manufacturing base.
Original link: https://en.imsilkroad.com/p/343326.html
View original content:https://www.prnewswire.co.uk/news-releases/xinhua-silk-road-wuxi-economic-development-zone-makes-efforts-to-optimize-business-environment-302318139.html
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