EQT's Infrastructure V backs EdgeConneX
EQT Infrastructure V is to co-invest in EdgeConneX, alongside EQT Infrastructure, with each fund taking an equal ownership stake.
EQT Infrastructure IV acquired EdgeConneX last year – although the $2.5 billion deal dates back to 2019. Following this, EQT said that "additional growth and development opportunities have been identified", including additional customer contracts, expanding the business' footprint through a proactive build approach in key markets and pursuing accretive M&A.
The participation of EQT Infrastructure V "will help to capture these opportunities and secure support and execution of EdgeConneX's full potential plan that was developed over the last year", EQT said.
The transaction is expected to close in Q3.
With the acquisition of a stake in EdgeConneX, Infrastructure V is expected to be 55-60% invested – Last year, EQT set a target fund size of €12.5 billion adding that it expects the Infrastructure V fund to reach a hard cap of €15 billion over the course of 2021. Meanwhile, EQT Infrastructure IV is expected to be 80-85% invested.