Moonstone family office buys three EQT fund stakes

Moonstone Investments, a Zurich-based family office, has bought stakes in EQT Funds IV, V and VI, according to UK regulatory filings.

The fund stakes were sold by Saudi Arabian trade and industrial conglomerate Rashed Abdul Rahman Al Rashed & Sons Group, which did not return a request to comment by press time.

EQT is based in Stockholm and operates throughout the Nordic and German-speaking regions. The firm makes controlling and co-controlling equity investments between €75 million and €400 million in mid- to large-sized companies. EQT declined to comment.

EQT IV raised €2.5 billion in 2004 and received commitments from other limited partners including the Andrew W Mellon Foundation, Unigestion and Allianz, according to PEI’s Research and Analytics division.

The fund is fully invested and only has three remaining portfolio companies: Danish facility services company ISS, Finnish bathroom ceramics producer Sanitec Oy and UK-based food and beverage concession retailer SSP.

EQT V raised €4.25 billion in 2006. Other LPs include the State of Wisconsin Investment Board, Skandia Life Insurance Company and Bregal Investments, which sold its stake to Cubera in February.

Last month, Secondaries Investor revealed NKB Investments, a Limassol, Cyprus-based investment firm, had sold its stakes in three EQT funds including EQT Fund V to Hermitage & Co.

The fund is also fully invested and has nine current portfolio companies including Norwegian sporting goods retailer XXL Sport & Villmark and German infrastructure service provider SAG, according to the website.

EQT’s most recent fund, Fund VI raised €4.82 billion in 2011 and is still investing, according to PEI data. LPs in the fund include Capital Dynamics, Ilmarinen Mutual Pension Insurance Company and the Government of Singapore Investment Corporation. Portfolio companies include Norwegian telecom operator Broadnet and Finnish healthcare service provider Terveystalo, according to the website.

Moonstone is the family office of Hanineh and Dan Moradian. The group was previously owned by Shasha Investment & Trade Company, but Shasha sold its equity stake in July 2013, according to Moonstone’s website. The group didn’t return a request for comment by press time.