How a lesser-known Swedish private equity giant plans to win over US retail investors

Core Insights - EQT is one of the largest private equity firms globally, with $312 billion in assets under management, yet it remains relatively unknown among wealthy Americans [2][8] - The firm has raised over $113 billion in third-party private equity capital from 2020 to the end of 2024, positioning it ahead of Blackstone and just behind KKR in fundraising this decade [2] - EQT is shifting its focus to private wealth as a new growth source due to slow cash returns to investors and reduced institutional funding [3] Company Strategy - EQT has returned capital at a normal pace, distributing $23 billion for the year ending June 2025, and aims to increase its private wealth business from 10% to 15-20% of its assets during its current $100 billion fundraising cycle [5] - The firm plans to offer individual investors the same deals as institutional investors, leveraging its global reach as a significant advantage [6] Historical Context - Founded in 1994 as a spin-off from Investor AB, EQT has historical ties to Sweden's Wallenberg family, known for their extensive business holdings in major Swedish firms [9]