EQT AB Ordinary Shares

EQT: XSTO (SWE)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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EQT: Growth Shifts to Lower-Fee Strategies as Carry Lulls; Fair Value Estimate Cut to SEK 265

Johann Scholtz

Oct 7, 2026

EQT has closed its Coller Capital deal, adding about EUR 31 billion of secondary assets to its EUR 155 billion fee-generating base. Its flagship funds have stalled: EQT XI targets EUR 23 billion, barely above EQT X, and funds now paying carry have only about EUR 600 million left to recognize.

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EQT AB Ordinary Shares

EQT: Growth Shifts to Lower-Fee Strategies as Carry Lulls; Fair Value Estimate Cut to SEK 265

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