Adelis Equity Partners Fund III has held a final close. The Fund will continue its predecessor funds’ focus on growth-oriented investments in the Nordic mid-market.

Adelis Equity Partners Fund III (Adelis III) held a final close on 27 October 2021, following a short period of fundraising. The Fund, which was significantly oversubscribed, raised EUR 855 million from external investors, on top of which Adelis’ employees have committed to invest 9%, or EUR 77 million, for a total fund size of EUR 932 million.

Investors in Adelis III include leading pension funds, foundations and fund-of-funds from Europe and North America. Investors in Adelis Equity Partners Fund II, all of whom are represented in Adelis III, make up the vast majority of the capital.

Adelis is a growth partner for well-positioned, Nordic companies. Adelis partners with management and/or owners to build businesses in growth segments and with strong market positions. Since raising its first fund in 2013, Adelis has been one of the most active investors in the Nordic middle-market, making 26 platform investments and more than 120 add-on acquisitions.

Adelis Equity Partners Fund I closed on SEK 3.7 billion in 2013 and Adelis Equity Partners Fund II raised EUR 600 million in 2017.

“We are grateful for the strong support from our existing investors and very pleased to have broadened our investor base with additional blue-chip institutions from Europe and North America” says Jan Åkesson at Adelis.

Adelis received legal advice from Akin Gump Strauss Hauer & Feld, Vinge and Gernandt & Danielsson in the fundraising process. Park Hill Group served as exclusive placement adviser.

For further information:

Jan Åkesson, Co-Managing Partner, + 46 8 525 200 00.

Adalbjörn Stefansson, Head of Investor Relations, +46 8 525 200 04.

CHICAGO/AUSTIN, November 8, 2021 – Adams Street Partners, LLC, a private markets investment management firm with more than $49 billion of assets under management, today announced that it has opened a new office in Austin, Texas — a significant geographic hub for venture capital, private equity, entrepreneurs, and technology talent.

Jeff Diehl, Managing Partner and Head of Investments at Adams Street, said, “Austin has become a vibrant entrepreneurial hub and it serves as a base-camp for many of America’s fastest-growing companies. Austin also possesses a deep and growing pool of skilled technology, venture capital, and private equity talent. We are excited about our new office bringing us closer to this innovative and dynamic ecosystem.”

Adams Street focuses on investing in private companies and fund managers who operate in sectors experiencing dislocation, change, and growth. The firm has developed a global investment platform that combines knowledge, data, and local relationships to create differentiated private market investment opportunities for institutional investors around the world. The firm also helps inspired entrepreneurs build lasting companies. Adams Street’s Growth Equity Team has more than 150 years of collective investment and operational experience to help entrepreneurs and CEOs scale their companies.

Austin will be Adams Street’s fifth location in the US and 11th globally. The firm has additional offices in Beijing, Boston, Chicago, London, Menlo Park, Munich, New York, Seoul, Singapore, and Tokyo.

About Adams Street Partners

Adams Street Partners is a global private markets investment manager with investments in more than 30 countries across five continents. The firm is 100% employee-owned and has more than $49 billion in assets under management. Adams Street strives to generate actionable investment insights across market cycles by drawing on nearly 50 years of private markets experience, proprietary intelligence, and trusted relationships. Adams Street has offices in Austin, Beijing, Boston, Chicago, London, Menlo Park, Munich, New York, Seoul, Singapore, and Tokyo. Visit www.adamsstreetpartners.com

Media Inquiries:
Rich Myers / Rachel Goun
Profile Advisors
+1 347 343 2999
adamsstreet@profileadvisors.com

EQT accelerates its journey to address climate change by defining ambitious greenhouse gas emission (“GHG”) reduction targets, encompassing both its own and its portfolio investments’ operations

EQT becomes the first private markets firm to formalize science based targets through the Science Based Targets initiative (“SBTi”)

The science based targets (“SBTs”) will become a central part of EQT’s active ownership strategy and climate-related value creation drivers across all investments

EQT AB is proud to announce that EQT’s science based targets have recently been approved and validated by the SBTi. With this, EQT has formalized its GHG emission reduction targets in line with the 1.5° pathway described in the Paris Agreement. EQT has a unique position to take an active role in addressing climate change and is fully committed to its purpose of making a positive impact with everything it does, both on group-level and in the EQT Funds’ investments.

The journey to map and offset emissions started already in 2014, and since the commitment to set SBTs in December 2020, EQT has further refined the GHG baseline in its investments and defined holistic emission reduction targets. Looking ahead to 2030, EQT is committing to:

• Reducing EQT AB’s direct emissions by 50 percent
• Reducing EQT AB’s indirect emissions from business travel by 30 percent
• Ensuring 100 percent of the EQT portfolio companies (excluding EQT Ventures*) will have their own SBTs validated by 2030, 10 years faster than required by SBTi
• Reducing indirect emissions in the EQT Real Estate I and II funds by 55 percent per square meter floor area

EQT has set interim targets and will publicly report progress annually with 2019 as a base year. Over the coming years, portfolio investments in the most recently launched fund strategies will also be included in the targets.

Bahare Haghshenas, Global Head of Sustainable Transformation, “We have a clear ambition to combat climate change holistically across the EQT ecosystem and setting science based targets is an important milestone towards this goal. This is a testament to how we integrate purpose and positive impact into everything we do, and it will enable us to drive even better performance.”

Alberto Carrillo Pineda, Managing Director of Science Based Targets initiative at Carbon Disclosure Project, “We are delighted to see EQT paving the way for the private markets industry and defining a new bar of ambition. EQT and the broader private markets industry have a unique opportunity to drive real change and limit global warming in line with the Paris Agreement.”

By having SBTi approved science based targets, EQT now fulfils, earlier than anticipated, the first KPI target in its inaugural sustainability-linked bond, which was established earlier this year to underscore EQT’s approach of having sustainability as an integral part of the business model of both the EQT AB Group and the EQT Funds’, including its portfolio companies. Further, it reaffirms EQT’s ambition to lead by example in the broader private markets industry.

Facts
The Science Based Targets initiative helps the private sector drive ambitious climate action by enabling companies to set science-based emissions reduction targets in alignment with the pathways described in the Paris Agreement to limit global warming to 1.5°C vs. pre-industrial levels. The SBTi is a partnership between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF). Further details on the EQT SBTs can be found here.

Contact
Bahare Hagshenas, Global Head of Sustainable Transformation, bahare.hagshenas@eqtpartners.com, +45 313 104 31
EQT Press Office, press@eqtpartners.com, +46 8 506 55 334

*Excluded due to EQT Ventures’ investments being smaller than set thresholds as per SBTi’s latest guidelines for venture capital

About EQT
EQT is a purpose-driven global investment organization focused on active ownership strategies. With a Nordic heritage and a global mindset, EQT has a track record of almost three decades of delivering consistent and attractive returns across multiple geographies, sectors and strategies. Uniquely, EQT is the only large private markets firm in the world with investment strategies covering all phases of a business’ development, from start-up to maturity. Including EQT Exeter, EQT today has more than EUR 71 billion in assets under management across 27 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 24 countries across Europe, Asia-Pacific and the Americas and has more than 1,000 employees.

More info: www.eqtgroup.com
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• Reaches hard cap in less than four months
• Oversubscribed second tech-focused growth equity fund with a high re-up rate
• Leverages Apax’s deep technology expertise and global platform to invest in minority growth and growth buyout opportunities worldwide

Apax, a leading global private equity advisory firm, announced today the final close of Apax Digital Fund II (“ADF II”) at its $1.75bn hard cap. The fund will invest in high-growth technology companies globally.

ADF II will pursue the same strategy as its predecessor fund, targeting minority growth and growth buyout opportunities in rapidly expanding software, internet, and tech-enabled services companies worldwide.

The Apax Digital team, co-led by Managing Partners Dan O’Keefe and Marcelo Gigliani, will continue to draw on Apax’s deep-rooted technology expertise, global platform, and Operational Excellence Practice to partner with exceptional founders and leadership teams to help them accelerate growth, drive transformational change, and unlock value. Since inception the Apax Funds have invested c.$16bn in more than 200 companies within the technology sector.

Marcelo Gigliani and Dan O’Keefe, Managing Partners of Apax Digital commented: “We are grateful for the confidence of our investors, many of whom backed the predecessor fund. As demonstrated by ADF I, our deep technology expertise, the strength and scale of Apax’s global platform, and the value creation driven by Apax’s operational team, allow us to empower the companies we work with to go farther, faster.”

Mitch Truwit, Co-CEO of Apax and Chairman of Apax Digital , said: “We want to thank our limited partners for their support, which is a testament to the fund’s performance and the Digital team’s distinctive positioning in the market. Their experience, dedication, and ability to help companies scale and accelerate growth gives them a clear edge.”