Entrepreneurship and an industrial approach have been the core of the EQT business model since the start and from the very beginning, the focus has been on sustainable portfolio company development.
EQT was established in 1994 when Investor AB (a Swedish industrial holding company founded by the Wallenberg family), AEA Investors (a North American private equity group), SEB, and a group of individuals (including Conni Jonsson and Thomas von Koch) formed a private equity advisory firm to leverage the industrial heritage and expertise of its founders to advise funds on investing in and improving businesses.
EQT operates fully independently from Investor AB. In 2012, EQT implemented a new corporate structure where all future activities were organized under one holding entity, EQT Holdings Coöperatief W.A, in order to facilitate growth as well as increase transparency and secure a solid, long-term platform. In December 2018, the Company’s shareholders decided on a reorganization with the main purpose of establishing EQT AB as the ultimate parent company in the EQT AB Group and to align the ownership interests in the Company.
Since it was founded 25 years ago, EQT has transformed itself from a Nordic private equity firm into a differentiated European leader within private markets, with a global focus. Over this period, EQT has raised EUR 61 billion of capital, and EQT Funds have invested in more than 240 portfolio companies, through 31 separate funds across seven business lines. The driving force has been a passion for supporting the development of companies that are strong and sustainable in the long-term – a passion that has remained the same for a quarter of a century and which the Company believes to be a key differentiator for EQT.
The schematic below highlights some of the key points in EQT’s expansion from being a Nordic player to being a global player, from private equity to a multi-strategy investment firm, and from an institutional-owned firm to a partner-owned company.
From Nordic to global
Investment advisory firm EQT Partners established by Conni Jonsson together with Investor AB, AEA Investors (a US-based private equity group) and SEB.
EQT Stockholm office opened
EQT I launched (Nordic buyouts)
Brukens Thermotreat first investment
EQT Copenhagen office opened
SEB sold its shares to Investor AB and AEA
EQT Helsinki and Munich offices opened
EQT Zürich office opened
Partners acquired 33% of Investor’s shares in EQT Partners AB.
EQT Expansion Capital I Fund launched
EQT Frankfurt and Hong Kong offices opened
EQT Opportunity and EQT Greater China funds launched
EQT Oslo and Shanghai offices opened
Partners increased ownership to 69% in EQT Partners AB, Investor AB hold remainder
EQT New York and Warsaw offices opened
EQT Infrastructure I Fund launched
EQT London and Singapore offices opened
EQT Credit Fund launched
Signatory to the United Nations Principles for Responsible Investment (UN PRI)
EQT VI launched - raised in less than nine months at hard cap EUR 4.75 billion
Future funds to be managed on-shore in Europe
EQT Holdings AB in Stockholm established
Tampnet (independent supplier of high capacity communication to offshore Oil & Gas installations in the North Sea) first investment within new on-shore structure
EQT Infrastructure II fund launched - first fund domiciled on-shore in Europe
EQT Credit II fund launched at EUR 845 million
EQT Mid Market fund launched at EUR 1.1 billion
Thomas Von Koch appointed new Managing Partner and Conni Jonsson becomes Chairperson of EQT Holdings AB's Board of Directors
EQT celebrated 20 years in business
EQT filed its first UN PRI Transparency Report
EQT Madrid office opens
EQT VII launched - closed at the hard cap of EUR 6.75 billion
EQT Real Estate fund launched
EQT Mid Market Asia III fund launched - closed at USD 800 million
EQT Mid Market Credit fund launched - closed at EUR 530 million
EQT Ventures fund launched - commitments totaling EUR 566 million
EQT's first US-dedicated fund, EQT Mid Market US, closes at USD 726 million
EQT Infrastructure III fund closed at EUR 4.0 billion
EQT Mid Market Europe fund closed at EUR 1.6 billion
EQT Real Estate fund closed at EUR 420 million
EQT Berlin and San Francisco offices opened
EQT VIII closed at EUR 10.75 billion
EQT Mid Market Credit II fund closed at EUR 2.3 billion
EQT Public Value launched
EQT Milano office opened
EQT Infrastructure IV closed at EUR 9 billion
EQT Ventures II closed at EUR 620m
Christian Sinding appointed CEO and Managing Partner
EQT AB listed on the Nasdaq Stockholm Stock Exchange on 24 September
EQT Foundation launched
EQT Sydney and Paris offices opened