Ken Wong, head of EQT Australia and New Zealand, will relocate from Singapore to head up office
Swedish private equity firm EQT is expanding its operations in the Asia-Pacific region with the opening of a new office in Sydney.
The new branch will be led by Ken Wong, managing director and head of EQT Australia and New Zealand, who was previously based in Singapore.
“Australia and New Zealand have an abundance of investment opportunities in EQT’s core sectors, and we have already started to see that EQT’s differentiated approach to active, responsible and growth-focused ownership resonates with management teams, founders and corporates,” Wong said.
EQT made its first investment in Australia in 2014 following EQT Mid Market’s acquisition of I-Med Radiology Network, a diagnostic imaging service provider.
The firm is currently invested in Australian cloud and managed service provider Nexon Asia Pacific, and is set to take over Metlifecare, the owner and operator of 25 integrated retirement and aged-care villages in New Zealand, which serves more than 5,600 people.
The move will help the firm stay close to both its portfolio companies and to capture new investment opportunities in the region, said Thomas von Koch, deputy managing partner and chairperson of Asia-Pacific at EQT. The team will look to identify “thematic investment opportunities” in the region.
“We believe that Australia and New Zealand are some of the most interesting markets in the Asia-Pacific region and one where EQT can make a positive impact on portfolio companies as well as local communities,” he added.
EQT now has 18 offices in 16 countries across Europe, Asia Pacific and North America and has more than 700 employees. The firm has €41bn in assets under management across 19 active funds within private capital, real assets, and credit.
Source: Financial News
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