The Board of Directors of EQT AB ("EQT") has appointed Per Franzén as new CEO and Managing Partner, effective as of the Annual Shareholders' Meeting on 27 May 2025. During this transition period, Christian Sinding will remain as CEO.
Per Franzén has spent nearly two decades at EQT, currently serving as Deputy Managing Partner and Head of Private Capital Europe & North America. He has been instrumental to EQT's growth and success, most recently leading the EUR 22 billion raise of EQT X, which was the largest private equity fund closed globally in 2024.
After the transition, Christian Sinding will become an Institutional Partner. In this role he will Chair the EQT Council, which brings together some of EQT's most experienced leaders with external expertise to build partnerships and provide EQT and its clients the insights needed to stay ahead in an ever-evolving world. He will also continue to Chair the Global Investment Forum and remain a member of several Investment Committees.

STOCKHOLM, Feb. 17, 2025 /PRNewswire/ -- The Board of Directors of EQT AB ("EQT") has appointed Per Franzén as the new CEO and Managing Partner of EQT, effective as of the Annual Shareholders' Meeting on 27 May 2025. Per Franzén will succeed Christian Sinding, who has led EQT through a period of extraordinary transformation, growing the firm from a market capitalization of around EUR 7 billion at the time of its 2019 IPO to around EUR 40 billion at the time of this announcement. Per becomes CEO at a time of strength for EQT, which recently reported record levels of investments, increased exit activity, and significant portfolio valuation growth for 2024. This transition sets EQT up for continued success as it enters a EUR 100 billion fundraising cycle and looks to execute on new initiatives, including launching additional investment strategies, expanding distribution channels, and accelerating brand building efforts.

Per has spent nearly two decades at EQT, currently serving as Head of Private Capital Europe & North America and Deputy Managing Partner. He has been instrumental to EQT's success, most recently leading the EUR 22 billion raise of EQT X, which was the largest private equity fund closed globally in 2024. Today, EQT Private Capital Europe & North America manages EUR 113 billion in total assets under management, making it EQT's largest business line.

Commenting on his appointment, Per Franzén, said: "It is an honor to be appointed CEO of EQT. I am truly passionate about the firm, having spent most of my career here, and I am deeply committed to building on the fantastic global platform we have established under Christian's leadership. It's exciting to lead EQT into its next chapter together with the team and the support of the Board, and I'm grateful that Christian will remain at EQT as an Institutional Partner. I look forward to continuing to deliver exceptional value to our clients and shareholders, while upholding our core values."

Christian Sinding will remain CEO during the period leading up to the Annual Shareholders' Meeting, to ensure the best possible transition. Christian, who joined EQT in 1998 and has served as CEO since 2019, will then become an Institutional Partner. In this role he will Chair the newly formed EQT Council, which aims to amplify EQT's ability to create meaningful partnerships, provide clients with the insights needed to succeed for the long-term, and accelerate the impact of its global business. Christian will also continue to Chair the Global Investment Forum, which brings together EQT's most senior investment professionals to optimize performance by sharing expertise and insights from across all of EQT's strategies. He will remain a member of several EQT fund Investment Committees.

"As I reflect on my journey with EQT so far, I am filled with immense pride and gratitude for what we have accomplished together as a firm. Going from being employee number eleven to having nearly two thousand fantastic colleagues in over twenty markets is an unforgettable journey. Together, we have shown that a values-driven firm, which attracts and retains exceptional people, can deliver excellent performance that in the process benefits both our clients and the world at large," said Christian Sinding, incoming Institutional Partner at EQT. "I would like to thank Conni and the rest of the Board for their support during my time as CEO. I am proud to hand over the leadership to Per and as Chair of the Council and Global Investment Forum, as well as through my membership of several investment committees, I am excited to continue supporting EQT."

Conni Jonsson, Chairperson of the Board of EQT, said: "Christian has taken EQT through a period of remarkable transformation. His vision, dedication and unwavering commitment have been instrumental in establishing EQT's leading global position. He successfully led us through our 2019 IPO and has had a relentless attention to performance and culture as EQT has expanded into new markets and strategies. On behalf of the Board, I would like to extend my deepest appreciation to Christian and I am pleased that he will become an Institutional Partner."

"This is the next logical step for EQT and we now enter an exciting new phase with Per at the helm. I have worked with Per for nearly two decades, so I know he is a role model for EQT's distinct values and performance-driven culture. As Head of EQT Private Capital Europe & North America, Per has proven his ability to build and lead a large, multi-strategy, international team. I look forward to supporting him on this next step and am confident that with Per as CEO, thanks to his experience and performance mindset, EQT will continue delivering outstanding results for our clients and shareholders," added Conni Jonsson.

This is information that EQT AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08:30 CET on 17 February 2025.

About Per Franzén

Per Franzén joined EQT Partners in Stockholm in May 2007. He currently serves as Head of Private Capital Europe and North America and Deputy Managing Partner. He is a member of the EQT Executive Committee and Chairman of the Equity Partners Investment Committee.

Per is currently based in London but has previously worked in the Stockholm and Munich offices. He has been involved in a number of investments, including Anticimex, IVC Evidensia and IFS. Prior to joining EQT, Per spent six years at Morgan Stanley's London and Stockholm offices working in M&A, Leveraged Finance and Nordic Banking.

Please find photos of Per Franzén here.

About the EQT Council

The EQT Council aims to amplify EQT's ability to create meaningful partnerships, provide clients the insights needed to succeed for the long-term, and accelerate the impact of its global business. The EQT Council brings together some of EQT's most experienced leaders with external expertise and is Chaired by Christian Sinding.

From EQT, members also include EQT AB Chairperson Conni Jonsson and Lennart Blecher, Head of Real Assets and Deputy Managing Partner. They are joined by Marcus Wallenberg, the Vice Chair of Investor AB who holds a number of other Director and Board roles. Over time, EQT plans to expand the Council to further strengthen its expertise.

Contact
Olof Svensson, Head of Shareholder Relations, +46 72 989 09 15
EQT Press Office, press@eqtpartners.com, +46 8 506 55 334

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