EQT Launches European RE Platform

STOCKHOLM—EQT Partners, headquartered here, is making its first foray into real estate investing. The private equity firm has hired a dedicated team to help it identify opportunities across Europe, with newly added partners Edouard Fernandez and Rob Rackind best known as the co-founders of UK-based Wainbridge. Fredrik Elwing, formerly managing director in Greenhill & Co.'s real estate capital advisory group, has also joined as a director.

“The real estate segment has long been dominated by North American private equity firms and there is a market opportunity for a pan-European player, applying opportunistic and value add strategies,” says Lennart Blecher, deputy managing partner and head of infrastructure at EQT. “With Edouard and Rob, we will be able to explore new exciting investment opportunities.”

Rackind notes that there are “new real estate opportunities opening up across Europe. From the EQT platform, we can add a fresh approach when investigating business possibilities.”

Fernandez cites two main factors behind the decision he and Rackind reached to join EQT, which has raised about $25 billion for private equity investments since its founding in 1994. “Firstly, we knew EQT as one of the most respected private equity firms in the world, with a vast network and strong resources,” he says. “Secondly, we have the same mindset: EQT started out as entrepreneurs with a passion for developing companies, just like we started Wainbridge being entrepreneurs with a passion for real estate development.”