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 Partners 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.
The Company is, as of the date of the Offering Circular, approximately 76 percent owned by Partners*. approximately 1 percent owned by the EQT Foundation and approximately 23 percent is owned by Investor AB.
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.
*"Partners” refers to the employees within the EQT AB Group primarily with the title ”Partner” who are also shareholders in the 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 Partners Stockholm office opens
EQT I launched (Nordic buyouts)
Brukens Thermotreat first investment
EQT Partners Copenhagen office opens
SEB sells its shares to Investor AB and AEA
EQT Partners Helsinki and Munich offices opens
EQT Partners Zürich office opens
Partners acquired 33% of Investor’s shares in EQT Partners AB.
EQT Expansion Capital I Fund launched
EQT Partners Frankfurt and Hong Kong offices open
EQT Opportunity and EQT Greater China funds launched
EQT Partners Oslo and Shanghai offices open
Partners increase ownership to 69% in EQT Partners AB, Investor AB holds remainder
EQT Partners New York and Warsaw offices open
EQT Infrastructure I Fund launched
EQT Partners London and Singapore offices open
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 Chairman of EQT Holdings AB's Board of Directors
EQT celebrates 20 years in business
EQT files its first UN PRI Transparency Report
EQT Partners Madrid office opens
EQT VII launched - closes at the hard cap of EUR 6.75 billion
EQT Mid Market Asia III fund launched - closes at USD 800 billion
EQT Mid Market Credit fund launched - closes 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 closes at EUR 4.0 billion
EQT Mid Market Europe fund closes at EUR 1.6 billion
EQT Real Estate fund closes at EUR 420 million
EQT Partners' Berlin and San Francisco offices opens
EQT VIII closes at EUR 10.75 billion
EQT Mid Market Credit II fund closes at EUR 2.3 billion
EQT Public Value launched
Christian Sinding appointed CEO and Managing Partner
EQT Partners Milano office opens
EQT Infrastructure IV closes at EUR 9 billion