Fintech PR
EQT AB (publ) Q3 Announcement 2024
STOCKHOLM, Oct. 17, 2024 /PRNewswire/ —
Focus on value creation and realizations
“Throughout the third quarter, we continued to execute on a strong pipeline of thematic investment opportunities, drive value creation across the portfolio and systematically pursue realizations. We are taking advantage of improving capital markets to increase exit activity, but risks remain elevated due to an uncertain geopolitical outlook.”
Christian Sinding,
CEO and Managing Partner
Highlights for the period Jul-Sep 2024 (Jul-Sep 2023)
Strategic
- EQT launched fundraising for EQT Private Capital Asia’s BPEA IX and set the target fund size at USD 12.5bn, an increase of almost 20% compared to BPEA VIII’s fee-generating commitments
- EQT prepared for additional Private Wealth products, in line with the ambition to reach a total of five products within 6-12 months
- EQT continues to assess strategic opportunities, organically or through acquisitions to strengthen its platform
Fundraising
- FAUM increased to EUR 134bn (EUR 128bn). Total AUM was EUR 246bn (EUR 232bn). Gross inflows amounted to EUR 3bn, partly driven by closed out commitments from EQT Infrastructure VI
- EQT Infrastructure VI had fee-generating commitments of EUR 16.9bn. Active fundraising efforts are expected to materially conclude in 2024. The fund is expected to reach its target size upon its final close in the first quarter of 2025
- EQT Active Core Infrastructure closed at EUR 2.9bn in total fee-generating commitments, including EUR 0.3bn of fee-generating co-investments. Management fees for the fund, which is currently less than half invested, are charged on invested capital
- BPEA IX is expected to be activated in the first half of 2025, and upon activation, management fees for the predecessor fund BPEA VIII will be based on net invested capital at the fee rate applicable post the commitment period
Investment activity1
- Total investments by the EQT funds during the period amounted to EUR 6bn (EUR 2bn) driven by continued strong deal flow across regions and strategies. EQT has executed new thematic investments across cyber security, waste management, affordable housing and sustainability
- Investments include Acronis, a leading cybersecurity and data protection platform (EQT X); AMCS, a global leader in performance and sustainability software (EQT X, EQT Future); the public-to-private of PropertyGuru, a leading PropTech company in Southeast Asia (BPEA VIII); the public-to-private of Keywords Studios, a leader in gaming technology services (BPEA VIII); KJ Environment, a leading waste treatment provider in South Korea (Infrastructure VI); and GeBBS Healthcare Solutions, a leading healthcare technology solutions provider in India (BPEA VIII)
Exit activity1
- Total gross fund exits announced during the period amounted to EUR 3bn (EUR 2bn)
- EQT has taken advantage of improving market dynamics to pursue various realizations, including full exits, equity sell-downs and stake sales in listed assets, minority stake sales, as well as certain exits in mature funds
- Exit events include the minority sale of EdgeConneX, a leading global provider of data center capacity (Infrastructure IV, Infrastructure V); the partial sell-downs in Galderma, a leader in dermatology (EQT VIII); the partial sell-down in Beijer Ref (EQT IX); and the full sale of EQT’s stake in Fiberklaar, a leading independent fiber-to-the-home provider in Belgium (Infrastructure V)
Investment performance
- All key funds continued to perform On plan or Above plan
- Value creation on a like-for-like basis across the Key EQT funds amounted to 4% during the quarter, following continued healthy earnings growth and a recovery in valuation multiples
- The development was consistent across business lines, with particularly strong performance in the listed portfolio companies in EQT Private Capital’s key funds. Recently acquired assets in Private Capital Asia’s key funds were positively impacted by performing ahead of their value creation plans
People and future-proofing
- The number of full-time equivalent employees and on-site consultants (FTE+) amounted to 1,927 (1,832), of which 1,861 (1,752) were FTEs
- Henry Steinberg was named Global Head of EQT Exeter after Ward Fitzgerald, founder of EQT Exeter, decided to step down. Since the acquisition of Exeter in 2021, EQT Exeter has doubled its fee-paying AUM, revenue, and EBITDA. Ward will work with Henry to ensure a smooth transition
- Masoud Homayoun, Head of EQT Value-Add Infrastructure, was also appointed Head of EQT Infrastructure
- Since committing to the Science Based Targets initiative in 2021, EQT has supported 49 portfolio companies in setting science-based targets.2 In terms of invested capital, around 57% of portfolio companies have validated science-based targets, which is about three times higher than the median alternative asset manager3
Other
- In the third quarter, EQT completed a share buyback program of 2 million ordinary shares. As previously communicated, EQT expects to execute share buyback programs twice a year to offset the dilution impact from EQT’s equity incentive programs
- On October 22, EQT will host its first US capital markets event in New York
- EQT will participate in the upcoming UN Climate Change Conference, COP29 in Baku, Azerbaijan
- Lock-ups related to 12% of EQT’s share capital expired during the quarter, with around 40% of released shares being owned by members of the Board or Executive Committee. Since the IPO in 2019, EQT’s free float has increased from around 24% to over 40%
Events after the reporting period
- EQT Infrastructure V announced the sale of a 25% minority interest in Reworld to GIC
- Investment levels in EQT Key funds as of 17 October 2024 were 40-45% in EQT X, 45-50% in EQT Infrastructure VI and 70-75% in BPEA VIII
- Signed transactions, if not otherwise mentioned
- Of which five completed the validation process during the period. In addition, 22 companies are in the process of setting targets
- BCG, May 2024
Presentation of EQT AB’s Q3 Announcement 2024
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, Head of Corporate Communications, +46 72 989 09 11
EQT Press Office, [email protected], +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 07:00 CEST on 17 October 2024.
This information was brought to you by Cision http://news.cision.com
https://news.cision.com/eqt/r/eqt-ab–publ–q3-announcement-2024,c4052389
The following files are available for download:
|
https://mb.cision.com/Main/87/4052389/3058683.pdf |
EQT AB Q3 Announcement 2024_vF |
|
EQT AB Group |
View original content:https://www.prnewswire.co.uk/news-releases/eqt-ab-publ-q3-announcement-2024-302278835.html
Fintech PR
HTX 2025 Outlook: Five Sectors to Look Forward to, and How Trump’s Policy Will Affect Crypto Industry
SINGAPORE, Jan. 10, 2025 /PRNewswire/ — The year 2024 marks a significant chapter in the history of the crypto industry, where we witnessed continuous breakthroughs in blockchain technology, surges in Bitcoin price, and a gradually more open regulatory environment, with cryptocurrencies gaining increasing recognition from the mainstream. As 2025 unfolds, HTX, the world’s leading digital asset exchange, has released its latest report, HTX 2024 Global Web3 Blockchain Ecosystem Review and 2025 Outlook, which provides forward-looking insights into the development prospects of the crypto industry.
Key Sectors for 2025
In the report, HTX highlighted five key sectors that showed encouraging progress last year, and will continue to closely monitor these areas in 2025.
Bitcoin Ecosystem
In 2024, Bitcoin’s market dominance kept increasing, solidifying its position as the core asset, with spot ETFs acting as liquidity channels, and U.S. listed companies such as MicroStrategy (MSTR) serving as the vehicles to absorb unlimited dollar liquidity.
As a result, it is increasingly essential to further develop Bitcoin’s ecosystem and enhance capital utilization efficiency. With strong support from macro markets and infrastructure support, a further surge in Bitcoin demand over the next two years is well-anticipated.
Infrastructure
Infrastructure remained a cornerstone in 2024’s crypto investments and funding. The synergy between capital and technology has driven the rapid development of Layer 1, Layer 2, and middleware projects, among others.
Layer 1 solutions, in particular, now represent the focal point of technical development and exploration within the crypto space, and it is expected to remain a priority for development resources and capital investment in the future.
Meme Coins
The Meme coin sector emerged as a hotspot in 2024, fostering community consensus while integrating with fields like DeFi and GameFi to create new use cases. As the crypto market environment grows increasingly favorable, more retail investors are expected to enter the market, positioning Meme projects as vital channels for capital inflows.
AI
In 2024, the intersection of Crypto and AI sector has been driving the exploration of several segmented fields, the hottest one of which is AI agents. In the future, AI agents will gradually become personal butlers and assistants for users, serving them with comprehensive capabilities. Over time, they may develop unique cultures and religions.
This deep integration of AI and encryption technology is a groundbreaking evolution that is unattainable within Web2 and cannot be achieved by Web3 relying solely on encryption technology.
TON Ecosystem
Attributable to Telegram’s hundreds of millions of users and robust technical support, the TON ecosystem achieved significant milestones in various fields, pioneering the monetization of Web2 social applications through crypto. Moving into 2025, it needs to explore and find new business models to improve user retention and identify its next growth curve.
Donald Trump Effect: Bitcoin Strategic Reserve Worth Anticipating
The report also discusses the potential impact of crypto-friendly policies that could arise after Donald Trump takes office. Two important bills, the FIT21 Act and the Bitcoin Strategic Reserve Act, are likely to pass more quickly thanks to him.
The FIT21 Act aims to create a clear legal framework for token issuance and trading by classifying tokens as digital assets or digital commodities, transferring the regulatory responsibilities of many blockchain projects from the SEC to the CFTC, and introducing a safe harbor mechanism. This would help standardize and promote the healthy growth of the entire industry.
The Bitcoin Strategic Reserve Act, aligning with Trump’s campaign promises, if passed, would mark Bitcoin’s transition from a niche asset to a nationally recognized reserve asset, greatly enhancing its legitimacy and recognition. It may also prompt other countries to adopt similar measures to further advance Bitcoin’s global recognition and application.
The Act was submitted to Congress for deliberation on August 4, 2024, and referred to the Senate Banking Committee for review. Trump is well-positioned to push this bill through. Meanwhile, several U.S. states have already proposed their own Bitcoin Strategic Reserve bills. By 2025, Bitcoin as a strategic reserve may become a reality.
Additionally, under Trump’s presidency, the SAB121 Act is likely to be repealed, allowing traditional financial institutions to hold cryptocurrencies on their balance sheets, further accelerating the institutionalization of crypto assets and contributing to the overall maturity of the crypto market. The SEC’s application criteria of the Howey Test may also be relaxed, increasing the likelihood of more spot crypto ETFs being approved and more public listings of crypto companies.
Meanwhile, the report also provides a comprehensive summary of 2024, looking back on the key events that had a major impact on the crypto industry while summing up what HTX had achieved over the last year.
To learn more, please visit: https://square.htx.com/htx-2024-global-web3-blockchain-ecosystem-review-and-2025-outlook/
About HTX
Founded in 2013, HTX has evolved from a virtual asset exchange into a comprehensive ecosystem of blockchain businesses that span digital asset trading, financial derivatives, research, investments, incubation, and other businesses.
As a world-leading gateway to Web3, we harbor global capabilities that enable us to provide users with safe and reliable services.
Our growth strategy – “Global Expansion, Thriving Ecosystem, Wealth Effect, Security & Compliance”, underpins our commitment to providing quality services and values to virtual asset enthusiasts worldwide.
Contact Details
Ruder Finn Asia
[email protected]
Company Website
https://www.htx.com
Photo – https://mma.prnewswire.com/media/2595311/image_838145_24282172.jpg
Logo – https://mma.prnewswire.com/media/2391903/image_ID__Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/htx-2025-outlook-five-sectors-to-look-forward-to-and-how-trumps-policy-will-affect-crypto-industry-302347870.html
BEIJING, Jan. 10, 2025 /PRNewswire/ — Professor JIN Zhao, Assistant Professor of Finance at Cheung Kong Graduate School of Business (CKGSB), was honored with the Brattle Group Prize – Distinguished Papers at the 2025 American Finance Association (AFA) Annual Meeting held in San Francisco on January 5, 2025. This prestigious award recognizes outstanding papers on corporate finance published in the Journal of Finance, one of the discipline’s most esteemed academic journals. Professor Jin is the first scholar affiliated with a Chinese institution to receive this award since its inception in 1999. This achievement underscores the exceptional research capabilities and global impact of CKGSB’s faculty.
Professor Jin’s award-winning paper, “Artificial Intelligence, Education, and Entrepreneurship,” co-authored with Professor Michael Gofman from The Hebrew University of Jerusalem, offers a novel perspective and rigorous methodology to examine the intricate connections between artificial intelligence (AI), education, entrepreneurship, and financing. The study highlights the negative impact of AI talent migration from academia to industry on education systems as well as the establishment and funding capabilities of entrepreneurial ventures. By addressing these challenges, the research provides valuable theoretical insights and policy recommendations to support the sustainable development of the global AI industry.
Professor Jin Zhao is an Assistant Professor of Finance at CKGSB. He joined CKGSB in 2020 after earning his PhD in Finance from the University of Rochester. His research, which focuses on entrepreneurship, artificial intelligence, and corporate finance, has been presented at prestigious institutions, such as Stanford University, and published in leading academic journals. His work has also garnered attention from prominent media outlets, including The New York Times and The Wall Street Journal.
About CKGSB
Established in Beijing in November 2002, CKGSB is China’s first privately-funded and research-driven business school. The school aims to cultivate transformative business leaders with a global vision, sense of social responsibility, innovative mindset, and ability to lead with empathy and compassion (https://english.ckgsb.edu.cn).
View original content:https://www.prnewswire.co.uk/news-releases/ckgsb-professor-jin-zhao-becomes-first-chinese-business-school-scholar-to-win-afa-award-302347868.html
PORT VILA, Vanuatu, Jan. 10, 2025 /PRNewswire/ — Vantage Markets, a leading multi-asset trading platform, is set to make a significant impact at the upcoming iFX EXPO Dubai 2025, scheduled for January 14-16 at the Dubai World Trade Centre. As an Elite Sponsor, Vantage is poised to showcase its latest innovations and commitment to empowering traders worldwide.
In a recent exclusive interview, Souhail Fadlallah, Business Development Manager at Vantage, shared insights into the company’s objectives for the expo and the value it aims to deliver to attendees.
Fadlallah emphasized Vantage’s dedication to providing traders with tools and resources designed to enhance their trading experience. Attendees visiting Vantage’s booth can expect to discover the latest advancements in trading platforms, including features aimed at streamlining user experiences and optimizing performance.
Beyond technology, Vantage is committed to offering advanced educational resources. Fadlallah highlighted the company’s suite of learning tools that provide traders with valuable insights and training materials to sharpen their skills and achieve success in the financial markets. Additionally, Vantage’s robust affiliate and partner programs are designed to drive mutual growth and success, reflecting the company’s dedication to creating value for its partners.
For Vantage, participation in iFX EXPO Dubai 2025 is about more than showcasing its offerings; it’s about building trust and fostering meaningful connections. Fadlallah stated, “We want attendees to leave iFX EXPO Dubai with the clear message that Vantage is more than just a trading platform. We’re a partner deeply committed to innovation, transparency, and the success of all our clients.”
Vantage invites all attendees to visit their booth at the iFX EXPO Dubai 2025 to explore their offerings and engage with their team of experts. The event promises to be a hub of innovation, insights, and empowerment in trading.
For more information about Vantage and their participation in iFX EXPO Dubai 2025, visit Vantage Markets.
About Vantage
Vantage Markets (or Vantage) is a multi-asset CFD broker offering clients access to a nimble and powerful service for trading Contracts for Difference (CFDs) products, including Forex, Commodities, Indices, Shares, ETFs, and Bonds.
With over 15 years of market experience, Vantage transcends the role of broker, providing a trusted trading ecosystem, an award-winning mobile trading app, and a user-friendly trading platform that empowers clients to seize trading opportunities. Download the Vantage App on App Store or Google Play.
trade smarter @vantage
RISK WARNING: CFD trading carries significant risks. You could lose more than your initial investment.
Photo – https://mma.prnewswire.com/media/2595278/Vantage_Showcase_Innovation_iFX_EXPO_Dubai_2025.jpg
Logo – https://mma.prnewswire.com/media/2506103/Vantage_15_Logo_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/vantage-to-showcase-innovation-at-ifx-expo-dubai-2025-302347838.html
-
Fintech PR7 days agoBybit x Block Scholes Report: BTC Options Steady with Call-Put Parity, ETH Braces for Short-Term Volatility
-
Fintech PR7 days agoArtificial Intelligence (AI) in Trading Market to Reach USD 35 Billion by 2030, Growing at a 10% CAGR | Valuates Reports
-
Fintech3 days agoAsian Financial Forum held next week as the region’s first major international financial assembly of 2025
-
Fintech PR3 days agoOWIT Global Provides Alternative Delivery Models that Adapt to the Continuously Evolving Data Security Demands of the Industry
-
Fintech PR4 days agoHyundai Motor Group Executive Chair Euisun Chung Outlines 2025 Vision Driven by Commitment to Innovation, Overcoming Challenges, and Creating Opportunities in New Year’s Message
-
Fintech PR4 days agoZoomlion Accelerates Global Expansion with Localized Innovations in Saudi Arabia
-
Fintech PR5 days agoPayroll Service Market Anticipates Strong Growth Amid Rising Automation Demand
-
Fintech PR1 day agoClear Channel Outdoor Holdings, Inc. to Sell its Europe-North Segment to a subsidiary of Bauer Media Group for $625 Million