EQT's Growth Is Moving to Lower-Fee Strategies, and Carry Will Take Longer to Arrive

EQT has made a name for itself as a thematic specialist with sector expertise, especially in healthcare and technology. It initially invested mainly in Europe, but it is now one of the most prolific global private-market firms. In many of its investments, it straddles the gap between startups that tend to attract mostly venture capital funding and the mature firms that buyout funds tend to target. EQT offers direct private equity, real estate, and infrastructure funds, and its acquisition of Coller Capital added a large secondaries platform. It sold its private credit business.