EQT achieves €11bn in exits, signaling rebound in private equity activity

EQT Partners, the Swedish private equity firm managing €269bn in assets, generated €11bn in exit proceeds in 2024, representing a 72% increase from the previous year.

This growth signals a recovery in private equity after years of subdued exit activity.

Key transactions included the Swiss IPO of dermatology group Galderma, which raised SFr2.3bn ($2.53bn) and has since doubled in value, and the New York listing of healthcare technology company Waystar, which is up 77% post-IPO. CEO Christian Sinding attributed the rebound to improving market conditions, including falling interest rates, robust capital markets, and political stability.

EQT has also embraced creative strategies to navigate challenging exit conditions. Three of its roughly 30 exits last year involved transferring stakes between EQT funds, enabling the firm to return capital to investors while bringing in new participants. A notable example was the sale of part of its stake in Nord Anglia, a global schools operator valued at $14.5bn, while transferring control to a newer EQT fund.

Despite a decline in gross inflows to €11bn from €24bn in 2023, EQT deployed €11.3bn in the second half of the year, with fee-generating assets under management rising to €136bn by year-end. Shares in the firm climbed over 10% following the announcement, reflecting investor confidence in its performance.

EQT’s results highlight a renewed optimism in private equity as firms look to capitalise on improving market dynamics and deliver returns for investors in 2025.

Source: Financial Times

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