EQT reported 3 billion euros ($3.36 billion) in gross fund exits in the third quarter, including the sale of software provider Quantios and South Korean financial services group Acuon, alongside exits from a cybersecurity business and two US logistics property portfolios.
The Swedish private equity firm also realised 400 million euros ($448 million) for co-investors during the quarter, compared with 2 billion euros ($2.24 billion) in gross fund exits in the same period a year earlier, according to a Thursday announcement.
Quantios was held by EQT Private Capital’s Asia Mid-Market Opportunities Fund I, while Acuon was owned through BPEA Private Equity Fund VII.
EQT agreed in July to sell its stake in Quantios to Vista Equity Partners, the US software-focused buyout firm. The business was formed through the combination of ViewPoint and TrustQuay, and has since grown into a global software platform serving nearly 700 organisations in the trust and corporate services industry. EQT supported its expansion through cloud migration, artificial intelligence initiatives and product development.
Separately, EQT agreed on September 30 to sell Acuon to a consortium led by Hanwha Life Insurance, part of South Korea’s Hanwha Group; and Centroid Investment Partners.
Acuon comprises Acuon Capital and Acuon Savings Bank, which provide financing to corporate, commercial and retail customers in South Korea. EQT said the group’s total assets nearly doubled to about 10 trillion won under its ownership, while Acuon Savings Bank climbed from ninth to fifth among South Korean savings banks by total lending assets.
EQT also listed Ontinue, an AI-powered managed cybersecurity services provider, among its third-quarter exits. In September, the firm announced an agreement to sell the business to Quorum Cyber. Ontinue serves customers in Europe and the US, and EQT said the company had approximately doubled in scale since 2022 under its ownership.
Its real estate business completed two further disposals through EQT Real Estate Industrial Value Fund V.
In August, the fund sold a 46-building logistics portfolio spanning 10 markets in southeastern US, totalling approximately 10.5 million square feet, to an affiliate of California-based LBA Realty. It also completed the sale of a 20-property portfolio spanning six Midwestern US markets, covering approximately 4.4 million square feet.
