EQT today announced the launch of the EQT Foundation, a foundation with the purpose of hosting and driving EQT’s global philanthropic efforts. The EQT Foundation will coordinate and align its efforts with EQT’s mindset of making a positive impact with everything it does and ensure a clear connection to its business model, purpose and vision.
The EQT Foundation has received around one percent of the shares in EQT AB, which will secure recurring revenue streams for the Foundation. The shares are common shares with the same voting and economic rights as other shareholders. The EQT Foundation will be a long-term shareholder with the right to appoint a member to the nomination committee of EQT AB.
The EQT Foundation will be operated independently from EQT and will be managed by the EQT Partnership Association, a non-profit association whose members will initially be comprised of certain Partners at EQT. At the same time, the Foundation will be able to take advantage of EQT’s capabilities and brand to amplify the EQT platform’s overall impact.
Christian Sinding, CEO and Managing Partner at EQT, said: “We are excited about launching the EQT Foundation to coordinate our philanthropic initiatives. The Foundation will be able to leverage the passion, competencies, and heritage of EQT and our employees to make a positive difference in society and shape a better tomorrow. We look forward to continuing to build the Foundation in the long-term spirit of the Wallenberg family”.
Additional information about the philanthropic focus areas of the EQT Foundation and potential projects will be communicated as the Foundation evolves.