European private equity firm EQT Partners has closed its first fund focused on mid-market deals above its €1 billion target, amid rising levels of global investor interest in the mid market.

The Stockholm-based firm, which is partly owned by Investor, the listed holding company of Sweden's Wallenberg family, said on Tuesday that it has closed its EQT Mid Market Fund with €1.1 billion of commitments, 95% of which came from the firm's existing investors.