EQT XI

EQT XI is the eleventh flagship private equity fund raised by EQT Group, one of the world's leading purpose-driven global investment organizations headquartered in Stockholm, Sweden, with EUR 273 billion in total assets under management as of March 2025. The fund represents a continuation of EQT's established mid-to-large-cap buyout franchise, building on the success of EQT X, which raised EUR 22 billion (approximately USD 24 billion) in February 2024 and became one of the largest private equity funds ever raised in Europe.

EQT XI targets controlling and co-controlling equity investments in high-quality, market-leading companies across EQT's core sectors of healthcare, technology, tech-enabled services, and industrial technology. The fund applies EQT's well-proven "active ownership" model, working closely with portfolio companies to drive organic growth, operational improvement, and strategic transformation. Individual deal sizes under the strategy typically range from EUR 200 million to EUR 1.6 billion in equity per transaction, consistent with EQT X's investment parameters. The fund will invest primarily across Europe and North America, geographies where EQT has deep local networks, sector expertise, and proven deal-sourcing capabilities built over three decades.

EQT XI was announced in June 2025 with a target size of EUR 23 billion. By November 2025, EQT set a hard cap of EUR 24 billion for the fund, indicating strong LP demand. Management fees commence from either the first investment closing or the end of EQT X's commitment period, whichever comes first, aligning the fund launch with EQT X's approach toward full deployment. EQT XI continues EQT's consistent fundraising cadence, where successor funds begin raising capital as predecessor funds reach 80–90% deployment, ensuring continuity of investment activity for LPs committed across the fund family.