EQT Partners has closed its latest fundraising after it hit its €6.75 billion hard cap, making it the European private equity firm's biggest vehicle to date by a wide margin as it followed the trend of firms hitting or exceeding their fundraising targets.

The firm said in an August 4 statement that it closed its seventh fund, which will focus on deals in Northern Europe, on July 31 having reached the vehicle's €6.75 billion hard cap. At that size, the fund is more than 40% larger than its predecessor that launched in 2011 and received €4.75 billion of commitments.