EQT Partners

EQT is a global investment organization founded in 1994, dedicated to investing in, developing, and owning companies across multiple regions, sectors and business models.[2] Together with a network of advisors, the firm invests in private equity, infrastructure, real estate, growth equity, and venture capital in Europe, North America, and Asia Pacific.[3]

EQT AB Group
TypeInvestment organization
Nasdaq Stockholm: EQT
IndustryPrivate equity
Founded1994 (1994) in Sweden
FounderConni Jonsson
HeadquartersRegeringsgatan 25,
Stockholm
,
Sweden
Key people
Conni Jonsson
(Chairman)
Christian Sinding
(CEO and Managing Partner)
Lennart Blecher
(Deputy Managing Partner)
Caspar Callerström
(COO)
Thomas von Koch
(Deputy Managing Partner)
ProductsInvestments
Private equity funds
AUM US$100.0 billion / €90.0 billion (2022) [1]
Number of employees
650
Websiteeqtgroup.com

As of March 2022, EQT's assets under management ("AUM") were US$100.0 billion / €90.0 billion. (2022) [4]

In June 2021 EQT was ranked as the sixth largest private equity firm by Private Equity International based on total fundraising over the last five-year period. [5]

History

The company was founded in 1994 by SEB, AEA Investors, and Investor AB, the holding company of the Wallenberg family.[6][7] EQT AB Group is the investment advisor to all the group's funds. It has around 650 employees, of which approximately 330 are within the investment advisory teams. The firm and its affiliates have offices in Amsterdam, Copenhagen, Frankfurt, Helsinki, Hong Kong, London, Luxembourg, Madrid, Munich, Milan, New York City, Oslo, Shanghai, Singapore, Stockholm, and Zurich.

In May 2016, EQT announced the formation of a venture capital arm, called EQT Ventures.[8]

In April 2021, EQT secured €15.6 billion (US$18.8 billion) for its ninth flagship Private Capital fund. This amount surpassed the firm's target of 14.8 billion euros and was greater than its eighth Private Capital fund, which closed in 2018 with €10.9 billion.[9]

In November 2021, EQT secured €15.7 billion (US$19.0 billion) for its fifth flagship Real Assets fund. This amount surpassed the firm's target of 12.5 billion euros and was greater than its fourth Real Assets fund, which closed in 2019 with €9.1 billion.[10] [11]

In March 2022, EQT made a corporate level acquisition of Baring Private Equity Asia to complement EQT's operations in Asia with Baring's US$20.0 billion assets under management.[12]

Notable investments

In October 2017, EQT acquired medical device company Clinical Innovations from the Pritzker Group for US$250 million.[13]

In July 2018, EQT announced the acquisition of SUSE for US$2.5 billion.[14] SUSE announced its continued support for the openSUSE project.[15] This acquisition was completed in 2019.[16]

In May 2019, EQT and Digital Colony Partners ("Digital Colony") signed a definitive US$14.3 billion merger agreement to acquire Zayo Group Holding Inc.,[17] which provides fiber connectivity and co-location services.

In May 2019, consortium led by EQT and ADIA enters exclusive negotiations to acquire skincare company Nestlé Skin Health.[18]

In June 2019, EQT partners acquired Acumatica.[19]

In September 2019, EQT acquired Inexio, a leading provider of fiber-optic Internet access in Germany.[20]

In September 2020, EQT acquired Spanish real estate Internet portal Idealista for €1.3 billion.[21]

In July 2021, EQT announced plans to acquire solar and storage developer Cypress Creek Renewables.[22]

References
  1. "EQT Buys Baring Asia Unit in $7.5 Billion Private-Equity Merger". www.wsj.com. Wall Street Journal. Retrieved 2021-11-04.
  2. Espinoza, Javier (7 March 2019). "EQT Co-Founder Leaves to Set Up Socially Responsible Fund". London: Financial Times. Nikkei. Retrieved 12 September 2019.
  3. "EQT Overview". pitchbook.com. PitchBook. 2021-11-08. Retrieved 2021-11-08.
  4. "EQT Buys Baring Asia Unit in $7.5 Billion Private-Equity Merger". www.wsj.com. Wall Street Journal. Retrieved 2021-11-04.
  5. "World's Top 10 Private Equity Firms". www.investopedia.com. Investopedia. 2022-01-22. Retrieved 2022-02-11.
  6. "SEB Asset Management (Real Estate - Homepage)". IPE Reference Hub. IPE Reference Hub. 2015-02-02. Retrieved 2015-02-23.
  7. Chris V. Nicholson, "EQT Nurtures Companies It Buys, Defying Vulture Label," The New York Times, April 11, 2011.
  8. "Buyout Fund EQT Starts $632 Million Venture Arm Targeting Europe". Bloomberg.com. 2016-05-26. Retrieved 2017-03-03.
  9. Chris Cumming, "EQT Closes on $18.8 Billion for Latest Buyout Fund," Wall Street Journal, April 22, 2021.
  10. Jonathan Kim, "EQT Infrastructure V Fund to Reach €15bn Equity Hard Cap," Dgtl Infra, March 9, 2021.
  11. Razak Baba, "EQT raises €15.7bn for global infrastructure fund," IPE Real Assets, November 2, 2021.
  12. "EQT Buys Baring Asia Unit in $7.5 Billion Private-Equity Merger". www.wsj.com. Wall Street Journal. Retrieved 2021-11-04.
  13. Jonathan D. Rockoff, "Private-Equity Group EQT to Buy Medical Device Company for $250 Million," The Wall Street Journal, October 18, 2017.
  14. "EQT fund to acquire SUSE for $2.5bn". Financier Worldwide. Retrieved 2021-12-06.
  15. "[opensuse-project] SUSE to be acquired by EQT Partners". lists.opensuse.org. Retrieved 2018-07-23.
  16. Ian Murphy (2019-03-18). "EQT completes aquisition [sic] of SUSE from Micro Focus". www.enterprisetimes.co.uk. Retrieved 2020-05-02.
  17. "Digital Colony, EQT to buy communications infrastructure firm Zayo for $8.2 billion in cash". CNBC. 8 May 2019.
  18. "Nestlé enters into exclusive negotiations to sell Nestlé Skin Health to a consortium led by EQT and ADIA".
  19. "IFS and Acumatica to form global cloud ERP powerhouse under EQT ownership". Acumatica Cloud ERP. Retrieved 2019-12-18.
  20. "EQT buys German fibre optic firm Inexio; source values deal around $1.1 billion". www.reuters.com. 28 September 2019. Retrieved 2021-11-10.
  21. "EQT buys Spain's Idealista from Apax for €1.3bn".
  22. "EQT acquires solar and storage developer Cypress Creek Renewables". www.pv-tech.org. 5 July 2021. Retrieved 2021-07-27.
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