By Dominic Chopping

STOCKHOLM--Swedish private-equity company EQT AB said Wednesday that its funds invested 20.6 billion euros ($23.33 billion) during 2021, with assets under management rising 40% on year.

EQT said assets under management rose to EUR73.4 billion at the end of December from EUR52.5 billion at the end of December 2020. Total gross fund exits in the year amounted to EUR30.7 billion.

The company said it continues to have an active exit agenda for 2022 with several portfolio companies being prepared for exits.

"In some ways, it has been a solid year for our industry, with increasing asset prices, attractive financing conditions, and a continued long-term shift in capital allocations towards private markets," EQT Chief Executive Christian Sinding said.

"Meanwhile, market uncertainty remains, with rising energy costs, geopolitical unrest, supply chain disruptions, higher inflation and rising interest rates."

A significant deterioration in market conditions would likely slow down investment and exit activity, and affect valuations, Mr. Sinding added.

EQT has 28 active funds within two business segments: private capital and real assets.

Write to Dominic Chopping at dominic.chopping@wsj.com

(END) Dow Jones Newswires

January 19, 2022 01:49 ET (06:49 GMT)