EQT AB, a Swedish private equity giant, is poised to make a transformative move in the United States, signaling a major shift in its global investment strategy. CEO and Managing Partner Per Franzén revealed plans on Bloomberg TV to invest more than $250 billion in the U.S. over the next five years, a significant increase from its historical activity in the region. This ambition underscores the firm’s confidence in the American market as a primary engine for growth across its diverse investment platform.
Franzén, speaking during an interview following the company’s Q3 2025 earnings announcement, described the U.S. as a “large opportunity, big opportunity” for EQT. He emphasized the firm’s intention to make substantial investments in its U.S. organization to support this expansion, stating, “We see really attractive growth opportunities across the platform.”
This strategic pivot comes as EQT solidifies its position as the largest private equity firm outside the U.S. and the second-largest globally, a stature that provides it with a unique advantage to offer clients investment opportunities spanning the U.S., Europe and Asia.
The firm’s investment strategy in the U.S. will span its three core business lines: private capital, infrastructure and real estate, with a combined 50% of its current activity in private capital and a third in infrastructure. While the exact allocation of the $250 billion remains fluid, a significant portion is expected to flow into commercial real estate, particularly the industrial and logistics sector.
This focus was confirmed in EQT’s year-end 2024 report, which stated the firm had discontinued its U.S. multifamily fund and decided not to pursue further investments in office and life sciences properties for the time being, choosing instead to focus “primarily” on industrial and logistics real estate under its EQT Real Estate brand.
This strategic realignment is already in motion. As the third-largest U.S. warehouse owner, EQT manages a 375 million-square-foot industrial portfolio and has been actively capitalizing on market dislocations. Henry Steinberg, global head of EQT Real Estate, noted the firm has been acquiring high-quality industrial buildings with leases at below-market rents, a strategy designed to generate outsized returns as demand for warehousing surges.
This demand is being fueled by the onshoring of supply chains, as companies move away from just-in-time inventory models due to pandemic-era disruptions and geopolitical risks, creating a sustained need for robust, last-mile logistics infrastructure.
Beyond real estate, Franzén highlighted artificial intelligence as a “generational opportunity” for the firm, particularly within its infrastructure strategies. He stated EQT is well-positioned to invest in this trend, targeting native AI opportunities and critical infrastructure like data centers, energy providers and fiber networks.
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