EQT

What EQT does

EQT AB is a Stockholm-headquartered, Nasdaq Stockholm-listed global private markets investment firm founded in 1994. It operates four integrated business lines — Private Capital (flagship buyouts EQT I–X, growth via EQT Growth, venture via EQT Ventures, life sciences via LSP, and Asia via BPEA EQT funds I–IX), Infrastructure (EQT Infrastructure I–VII, Active Core Infrastructure, Transition Infrastructure), Real Estate (EQT Exeter Industrial Value Funds, EQT Logistics), and Private Wealth (open-end/semi-liquid strategies) — managing approximately €269 billion (~$310 billion) in AUM across 330+ portfolio companies as of Q1 2026 and ranked #2 globally in private equity and #5 globally in infrastructure by capital raised.

EQT's operating platform combines a proprietary AI-driven sourcing system (Motherbrain) for deal origination, an in-house AI transformation team of approximately 35 people, and a flagship strategic partnership with Google Cloud announced May 2026 to deploy Gemini Enterprise Agent Platform, Gemini models, and Mandiant/Wiz cybersecurity across 300+ portfolio companies. Value creation follows an active-ownership model involving board representation, management changes, balance-sheet refinancing, M&A, and technology investment; recent outcomes include IFS quintupling revenue to €1.5bn and 12x operating profit growth, EdgeConneX tripling built data-center capacity across 50 markets, and exits such as Amolyt Pharma ($1.05bn to AstraZeneca), Sana ($1.1bn to Workday), and Galderma (largest PE sponsor-led block trade in history).

EQT earns revenue primarily through management fees on committed capital across its fund platform (industry-standard ~2% per annum, trending lower) and performance-based carried interest (typically 20% above a hurdle). The firm serves institutional LPs — pension funds, sovereign wealth funds (ADIA, Mubadala, Qatar Investment Authority, CalPERS), and insurance companies — through a multi-year closed-end fund model (typical 10-year lockups), and is extending distribution to high-net-worth and retail investors via the Private Wealth platform with evergreen/semi-liquid products distributed through partners such as Moonfare. Distribution is global across Stockholm, London, New York, Singapore, Hong Kong, Tokyo, Sydney, and Abu Dhabi offices.

Name

EQT

Legal name

EQT AB

Website

https://eqtgroup.com

Company type

Public

Founded year

1994

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

EQT is a Stockholm-headquartered, Nasdaq Stockholm-listed global private markets firm managing approximately €269 billion in AUM across 330+ portfolio companies, operating integrated Private Capital, Infrastructure, Real Estate, and Private Wealth platforms that serve institutional LPs and portfolio companies worldwide.

Ownership category

akta.pro rank

Product category

Private Equity and Alternative Asset Management

NAICS

Portfolio Management and Investment Advice (523940), Open-End Investment Funds (525910)

SIC

Investment Advice (6282), Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

Financial Services / Fintech Growth Equity (FSANACAE)

akta.pro secondary industry

Strategic / Balance-Sheet CVC (On-balance-sheet investing) (FSANAHAA)

Keywords

• Private equity investing
• Infrastructure investment
• Alternative asset management
• Private markets funds
• Growth equity strategies

Headquarters

HQ city

Stockholm

HQ country

Sweden

HQ region

Europe

Offices9 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Management Fees: EQT charges management fees on committed capital across its fund platform. Industry standard around 2% per annum, though this has trended lower over time. Fees are charged from first investment signing or termination of predecessor fund commitment period. Stable, recurring revenue base tied to AUM growth across private capital, infrastructure, real estate, and private wealth strategies.
2. Carried Interest: Performance-based compensation representing typically 20% of fund profits, earned only after investors receive a minimum expected return (hurdle rate). More cyclical than management fees, tied to fund performance and exits. Provides upside on successful investments such as Amolyt Pharma ($1bn exit to AstraZeneca), Sana ($1.1bn sale to Workday), and Galderma (largest PE sponsor-led block trade in history).
3. Investment Returns (Realized Gains): Returns from successful exits including take-privates (Perficient, Intertek, Kakaku.com), IPOs (Galderma, Sagility), strategic sales (Amolyt Pharma to AstraZeneca, Sana to Workday), and asset divestitures (Beijer Ref exit generating EUR 370M proceeds). These contribute to carried interest and direct investment income.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels9 records

Core offering

EQT is a global private markets investment firm that raises and manages closed-end and open-end investment funds across Private Capital (buyout, growth, venture), Infrastructure, Real Estate, and Private Wealth. The firm sells fund commitments and co-investment opportunities primarily to institutional limited partners (pension funds, sovereign wealth funds, insurance companies) and increasingly to high-net-worth individuals through evergreen and semi-liquid products, while deploying capital into portfolio companies and infrastructure assets to drive returns.

Product overview

EQT is a global private markets investment organization operating an integrated platform of investment strategies organized into four core business lines. The Private Capital platform spans flagship large-cap buyout strategies (EQT Private Equity and BPEA Private Equity Funds I–IX), growth-stage investing (EQT Growth, EQT Mid-Market Asia III, EQT Mid Market Europe), venture-stage (EQT Ventures I–III), sector-specialized strategies (LSP 3–7 and LSP Dementia Fund for life sciences, EQT HE 3 and EQT Healthcare Growth for healthcare), and future-focused growth (EQT Future). The Infrastructure platform includes EQT Infrastructure III–VII (core), EQT Active Core Infrastructure I, and EQT Transition Infrastructure. Real Estate encompasses EQT Exeter Industrial Value Fund VI/VII, EQT Logistics, and EQT Real Estate more broadly. Private Wealth delivers open-end and semi-liquid strategies (EQT Open-end Strategies) for individual investors. The platform is augmented by the EQT Foundation Fund, the EU-mandated Scaleup Europe Fund, and the EQT Value Creation platform that supports AI transformation across 300+ portfolio companies via the EQT–Google Cloud partnership.

Differentiator

Problem solved

Functional benefit

Brands

• EQT Private Capital: Private equity and growth investment platform covering Private Capital EU & NA and Private Capital Asia.
• EQT Infrastructure
• EQT Real Estate
• EQT Private Wealth
• EQT Exeter
• EQT Growth
• EQT Future
• EQT Ventures
• BPEA EQT
• LSP (Life Sciences Partners)
• EQT Active Core Infrastructure
• EQT Transition Infrastructure
• ThinQ by EQT

Products and services

• Private Capital EQT's flagship private equity platform offering fund commitments covering venture (EQT Ventures), growth (EQT Growth), and mature buyouts (EQT Private Equity I-X, BPEA I-IX) for institutional LPs targeting healthcare, technology, industrial technology, and services sectors globally.
• Private Capital Asia (BPEA) Asia-Pacific-focused private equity platform operated via the BPEA fund series, deploying capital across large-cap, mid-market, and growth strategies in healthcare, technology, services, and industrial tech sectors across Asia.
• Infrastructure EQT's infrastructure investing platform covering social, digital, environmental, and transport infrastructure through fund vintages EQT Infrastructure III-VII, Active Core Infrastructure I, and EQT Transition Infrastructure.
• Real Estate EQT's real estate platform actively managing a 470 million sq.ft. real estate portfolio as of 2026, including EQT Exeter Industrial Value Fund VI/VII and EQT Logistics.
• Private Wealth EQT's open-end and semi-liquid strategies platform providing high-net-worth and individual investors access to private markets through evergreen products distributed via wealth platforms such as Moonfare.
• EQT Growth Growth equity strategy delivering funding and strategic advice to support companies accelerating expansion and scaling operations, with investments in Vinted, CluePoints, Sana, Harvey, and Lovable.
• EQT Future Future-focused growth strategy targeting companies positioned at the intersection of sustainability and scale, including investments in Anticimex, BLOOM FRESH International, and Flix.
• EQT Ventures Early-stage venture strategy (EQT Ventures I, II, III) investing in technology-enabled companies across AI, fintech, cybersecurity, and sustainable transport sectors.
• EQT LSP (Life Sciences Partners) Life sciences-dedicated investment platform operating LSP 3 through LSP 7 funds plus the LSP Dementia Fund, investing across biotech, pharma, life science tools, and dementia-focused therapeutics across Europe and the US.
• EQT Transition Infrastructure Infrastructure strategy supporting the transition to clean energy by scaling businesses that enable a low-carbon economy across multiple regions; first investment was ju:niz Energy (energy storage developer/operator).
• Scaleup Europe Fund EUR 5 billion EU-mandated growth fund investing EUR 100 million+ in European tech scaleups from Series B onward across AI, quantum computing, clean energy, biotech, and other strategic technologies.
• EQT Mid Market Europe European mid-market buyout strategy with equity investment sizes typically EUR 200 million and above, focusing on technology and industrial technology sectors; portfolio includes BBS Automation and CYE.
• EQT Mid Market Asia III Asia-Pacific mid-market buyout strategy with equity investment sizes USD 50-300 million, focusing on technology, services, healthcare, and industrial tech sectors.
• EQT Foundation Fund Climate and equality-focused foundation fund investing in early-stage impact companies across climate tech, biotech, and equality themes.
• EQT Infrastructure VII Seventh flagship infrastructure fund with EUR 21 billion (approximately USD 24.5 billion) target size, succeeding EQT Infrastructure VI (closed March 2025 at EUR 21.5 billion).
• EQT Exeter Industrial Value Fund VII Seventh EQT Exeter industrial value fund with $6 billion target, succeeding Industrial Value Fund VI (approximately 80% invested), focused on industrial real estate.

Quantifiable outcome

• IFS quintupled annual revenues to €1.5bn; operating profit up 12x with agentic AI deployment
• +7 more outcomes

Named customers28 records

Segments5 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

AI capability7 records

Feature5 records

Partnerships

Eight partnerships are on record, tiered minor, flagship and core.

• Lovable, IBM (Google Cloud multi-year partnerships)minorStrategic or Co-development Partner · 6 June 2026Alphabet entered new multi-year Google Cloud partnerships with Lovable, EQT, and IBM to expand access to Gemini AI models and Google Cloud infrastructure for hundreds of enterprises. The collaborations aim to extend AI adoption beyond hyperscaler data centers into enterprise software and private equity portfolios.
• ATP (Association of Tennis Professionals)flagshipGTM or Marketing Partner · 3 June 2026Multi-year global partnership making EQT the first official private markets partner of the ATP Tour through 2030. Activates across 15 ATP tournaments in 12 markets with global audience of more than one billion fans. EQT gains prominent brand visibility across ATP Masters 1000, 500, and 250 tournaments. Coincides with EQT's global brand relaunch and represents the firm's first global sports sponsorship at a pivotal time in its growth.
• MoonfarecoreChannel Partner/ Reseller/ Distributor · 2 June 2026Moonfare organized exclusive events in Paris, Brussels, and Amsterdam, bringing together 100 community members with EQT Group presentations on investment strategies, technology, and AI impacts. EQT presentations aimed to strengthen investor relations and discuss future strategies through this private wealth distribution partner.
• Google Cloud (Alphabet)flagshipStrategic or Co-development Partner · 28 May 2026EQT and Google Cloud announced a strategic partnership to accelerate AI adoption among EQT's over 300 global portfolio companies. Portfolio companies gain access to Google Cloud's AI stack including the Gemini Enterprise Agent Platform, Gemini models, cybersecurity capabilities from Mandiant and Wiz, and sovereign cloud solutions. Google Cloud's forward-deployed engineers work alongside EQT's in-house AI transformation team of approximately 35 people. The partnership also opens new routes-to-market for EQT portfolio companies through Google Cloud Marketplace and co-sell initiatives.
• Global Infrastructure Partners (BlackRock-owned)flagshipStrategic or Co-development Partner · 21 May 2026A consortium led by BlackRock-owned Global Infrastructure Partners and EQT agreed to acquire AES Corporation for approximately $10.7 billion at $15 per share, strengthening AES's position as a major power provider to the data center sector. EQT also partnered with GIP in the Voltera/Revel EV charging combination where EQT became majority owner and GIP retained a minority stake.
• European Commission / EU Scaleup Europe Fund Founding Investors (Allianz, CriteriaCaixa, Novo Holdings, EIFO, ABP, Santander, Mouro Capital)flagshipStrategic or Co-development Partner · 18 May 2026EQT was selected by the European Commission and a coalition of founding investors as the preferred investment adviser and fund manager for the Scaleup Europe Fund, a €5 billion initiative. The fund will invest in privately owned European technology companies from Series B onward across sectors including AI, quantum computing, clean energy, space technology, and biotech. EQT will commit its own capital to the fund. First investments expected in autumn 2026.
• Kakaku.com Take-Private Legal Advisors (3 firms)coreImplementation/ SI/ Consulting Partner · 13 May 2026EQT is being advised by three law firms on its planned $3.6 billion take-private acquisition of Japanese online marketplace operator Kakaku.com. The deal represents one of the larger alternative asset transactions involving a Japanese target. Launched via BPEA Private Equity Fund IX at JPY 3,000 per share.
• Blackstone InfrastructureflagshipStrategic or Co-development Partner · 12 February 2026Funds managed by Blackstone Infrastructure and EQT Infrastructure VI agreed to acquire Urbaser, a Spain-based waste management and environmental services company, from Platinum Equity. Both Blackstone and EQT will each own 50% of Urbaser and jointly manage the company, supporting its expansion in the circular economy and industrial waste segment.

Scale indicators20 records

Recent moves12 records

Expansion highlights10 records

Direct peers

• KKR & Co. Global alternative asset manager with parallel private equity, infrastructure, real estate, and private wealth platforms; ranked #1 in European PE ahead of EQT (€104bn EV). Closest comparable in business mix, geographic reach, and mega-deal execution.
• Blackstone: The world's largest alternative asset manager with private equity, infrastructure, real estate, and private wealth. Co-invested with EQT on Urbaser and DESOTEC; most direct competitor for global mega-deals and infrastructure capital.
• Brookfield Asset Management: Leading global infrastructure and real assets manager; direct competitor for infrastructure mega-deals and a co-bidder with EQT on Everllence. Highly comparable in infrastructure franchise and capital scale.
• CVC Capital Partners: European-headquartered private equity firm with comparable scale (~€83bn EV in Europe per Gain); recently public. Direct competitor for European mid/large-cap buyouts and a competing bidder on Everllence.
• Apollo Global Management: Global alternative asset manager with private equity, infrastructure-adjacent credit, and retirement services. Comparable in scaled fundraising, mega-deal capacity, and global LP relationships.
• The Carlyle Group: Global private equity firm with parallel industry-vertical structure (technology, healthcare, industrial) and global fundraising; comparable in mid/large-cap buyout focus.
• Bain Capital: Global private equity firm; outbid EQT for Everllence (~€7.4B). Directly comparable in private equity scale and competing for the same mega-deal opportunities.
• Ardian: Paris-headquartered private investment house with large secondary, private equity, infrastructure, and private wealth platforms; comparable to EQT in European mid-market and LP-led strategies.
• Partners Group: Swiss-listed global private markets firm with private equity, infrastructure, real estate, and private wealth; comparable in thematic investing, scale (~USD 150bn+ AUM), and semi-liquid wealth products.
• Permira: European-headquartered global private equity firm with sector-focused buyout strategy; directly comparable as European mid/large-cap sponsor and was EQT's counterparty on Universidad Europea sale.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks4 records

Key highlights6 records

Customer concentration

• Xx.com/eqt
• YouTubeyoutube.com/@eqtgroup
• LinkedInlinkedin.com/company/eqt-partners
• Instagraminstagram.com/eqtgroup
• Facebookfacebook.com/eqtpartners

Compliance9 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles22 records

Subsidiaries10 records

Funding overview

Funding rounds2 records

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A272 records

Investments142 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about EQT