EQT, Europe’s largest private equity firm with €273bn in assets, is preparing to expand its presence in the US market as global investors reassess private equity allocations and US exposure. 

Founder and Chair Conni Jonsson told the Financial Times that the current environment presents a unique opportunity for EQT to grow, as “everybody is now running away from the US.” The firm is exploring organic growth, mergers, and acquisitions to accelerate its US ambitions.

The comments come as Per Franzén officially steps into the CEO role, succeeding Christian Sinding. Franzén, a long-time EQT executive with over €600m in personal holdings in the firm, will lead efforts to adapt to the changing market. He sees infrastructure as a major growth driver, potentially overtaking private equity as EQT’s largest business unit.

EQT, like many private equity groups, faces a challenging fundraising and exit environment. Franzén noted that while selling assets and returning capital to investors remains difficult, EQT’s strategy is to diversify into growth and long-hold private equity, small-to-mid-cap healthcare, and infrastructure funds. The firm also considered a tie-up with Arctos, a specialist in private markets solutions, though no deal was finalised.

Jonsson, who founded EQT in 1994, is gradually stepping back from investment committees and will focus on board strategy and supporting Franzén’s leadership. He believes EQT must act decisively to navigate market headwinds and capitalise on emerging opportunities, particularly in the US.

The firm has grown rapidly, expanding from 600 to nearly 2,000 employees since its 2019 listing, and is under pressure to deliver strong returns across its expanded platform. Franzén’s leadership will be key in executing cross-border growth plans, integrating acquisitions, and demonstrating the firm’s ability to generate value in a complex market.

Source: Financial Times

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