By Dominic Chopping
STOCKHOLM--Swedish buyout group EQT named company veteran Per Franzen as its new chief executive and managing partner, replacing Christian Sinding, who will step down in May.
Franzen joined EQT in 2007 and currently serves as deputy managing partner and head of private capital Europe and North America, the company's largest business division with 113 billion euros ($118.57 billion) in total assets under management.
He recently led the 22 billion-euro raise of the EQT X fund, which was the largest private equity fund closed globally in 2024, the company said.
"This transition sets EQT up for continued success as it enters a 100 billion-euro fundraising cycle and looks to execute on new initiatives, including launching additional investment strategies, expanding distribution channels, and accelerating brand building efforts," the company said in a statement.
The appointment will become effective at the company's annual shareholders' meeting on May 27, when Christian Sinding will become an institutional partner. In the new role, he will chair the EQT Council--which brings together EQT leaders with external expertise to build partnerships--and remain a member of several investment committees.
Sinding will also continue to chair EQT's Global Investment Forum, where senior EQT employees share insights to optimize performance.
Sinding has led EQT since 2019 and led the group's Stockholm listing that year. Debuting with a 7 billion-euro market valuation, EQT has grown to a valuation of around 40 billion euros.
Under Sinding's leadership, EQT has expanded through the acquisition of Exeter Property Group to increase its real-estate investments in the U.S., bought European life-sciences venture capital firm Life Sciences Partners, and acquired rival private-equity firm Baring Private Equity Asia as it bet on the growth of Asia's private markets.
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
February 17, 2025 04:13 ET (09:13 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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