Selected funds investor participation
Our investors have participated via selected funds to this transaction : IFS, a leading provider of cloud enterprise software and Industrial AI applications, achieved a valuation of over 15 bEUR due to its pivot to AI-driven growth. The valuation follows Hg increasing its stake to become a co-control shareholder alongside EQT, with TA Associates remaining a minority shareholder. New minority shareholders include the Abu Dhabi Investment Authority (ADIA) and Canada Pension Plan Investment Board (CPP Investments).
The transaction, involving shares sold by EQT and TA, reflects IFS’s strong growth, with over 1 bEUR in annual recurring revenue (ARR) and total revenue of 1.2 bEUR in 2024. Demand for IFS’s Industrial AI capabilities has surged, serving industries like Aerospace & Defense and Energy & Utilities, with new customers like Exelon and Rolls-Royce. The deal, announced in Q2 2025, has now received regulatory approval and closed in July 2025.
