EQT AB (publ) Half-year Report 2026
Strong progress and performance in H1
“In a volatile environment we were able to unlock attractive primary deals and make strong progress on our value creation agenda. At the same time, we stayed disciplined driving realisations and sent back close to €17 billion to fund and co-investors, further building on a record year of exits in 2025. We expanded and strengthened our client offering and are currently in the market with over 20 funds; interest from private market investors and distribution partners in EQT products remains high. Thanks to very strong fundraising momentum and value creation during the quarter, our recently launched AI Infrastructure fund reached more than $9 billion in NAV in less than three months post launch. Our evergreen platform reached €10 billion in net asset value1 and the Scaleup Europe Fund is off to a very promising start. The combination with Coller Capital is on track to close in Q3 and will further strengthen EQT's client relationships. Going forward, in an environment that is likely to remain challenging, EQT is exceptionally well positioned to deliver for clients and take market share.”
Per Franzén,
CEO and Managing Partner
1. Including Coller Capital. The transaction is subject to customary closing conditions, including regulatory approvals and certain Coller Capital fund investor consent approvals
Highlights for the period Jan-Jun 2026 (Jan-Jun 2025)
Strategic highlights
1. Estimated as of 30 June 2026, translated to EUR from USD based on 0.88 rate
2. The transaction is subject to customary closing conditions, including regulatory approvals and certain Coller Capital fund investor consent approvals
Key financials
Adjusted Financials – Alternative Performance Measures1
Reported Financials – IFRS
1. Adjusted Financials, which are alternative performance metrics for the EQT AB Group. For a full reconciliation, please refer to section "Alternative performance measures”
Balance sheet, realization of carried interest, and liquidity
Financial investments including carried interest1
Funding
Distributions to shareholders
1. See note 3 for additional details
2. 31 December 2025
3. Nominal amount. 31 December 2025
4. Net debt end of period divided by Adjusted EBITDA or Fee-related EBITDA during the last twelve months
Fundraising
Key funds
Other strategies
Evergreens
1. Source: Preqin, April 2026
2. EQT XI and EQT Infrastructure VII will only contribute to gross inflows upon activation
3. Note that only co-investments and NAV appreciation are incremental to EQT AB’s FAUM related to evergreens, as fund-of-fund investments is already accounted for in the underlying funds
Investment activity
Exit activity
1. Fund exits and realizations for co-investors
Investment performance
People
Other
Events after the reporting period
1. The transaction is subject to customary closing conditions, including regulatory approvals and certain Coller Capital fund investor consent approvals, and is expected to close in mid to late Q3 2026
2. EQT Infrastructure VII is currently expected to be activated and begin charging management fees around year-end 2026. Upon activation, and with the acquisition of Copia Power, EQT Infrastructure VII is expected to be 0-5 percent invested (including closed and/or signed investments, announced public offers, if applicable, and less any expected syndication) based on target fund size and subject to customary regulatory approvals.
Presentation of EQT AB’s Half-year Report 2026
Financial analysts and media are invited to participate in a conference call, including a presentation at 08.30 CEST.
The presentation and a link to follow the webcast and conference call live can be found here and a recording will be available afterwards.
To participate by phone, please register here. You will then receive your personal dial-in details, to be able to ask questions during the Q&A.
Information on EQT AB’s financial reporting
The EQT AB Group has a long-term business model founded on a promise to its fund investors to invest capital, drive value creation and create consistent attractive returns over a 5 to 10-year horizon. The Group’s financial model is primarily affected by the size of its fee-generating assets under management, the performance of the EQT funds and its ability to recruit and retain top talent.
The Group operates in a market driven by long-term trends and thus believes quarterly financial statements are less relevant for investors. However, in order to provide the market with relevant and suitable information about the Group's development, EQT publishes quarterly announcements with key operating numbers that are relevant for the business performance (taking Nasdaq's guidance note for preparing interim management statements into consideration). In addition, a half-year report and a year-end report including financial statements and further information relevant for investors is published. Finally, EQT also publishes an annual report including sustainability reporting.
Contact
Olof Svensson, Head of Shareholder Relations, +46 72 989 09 15
EQT Shareholder Relations, shareholderrelations@eqtpartners.com
Rickard Buch, Head of Corporate Affairs, +46 72 989 09 11
EQT Press Office, press@eqtpartners.com, +46 8 506 55 334
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 persons set out above, at 07.00 CEST on 17 July 2026.
About EQT
EQT is a purpose-driven global investment organization focused on active ownership strategies. With a Nordic heritage and a global mindset, EQT has a track record of more than three decades of developing companies across multiple geographies, sectors and strategies. EQT has investment strategies covering all phases of a business’ development, from start-up to maturity. EQT has €291 billion in total assets under management (€155 billion in fee-generating assets under management) as of 30 June 2026, within three business segments – Private Capital, Infrastructure and Real Estate.
With its roots in the Wallenberg family’s entrepreneurial mindset and philosophy of long-term ownership, EQT is guided by a set of strong values and a distinct corporate culture. EQT manages and advises funds and vehicles that invest across the world with the mission to future-proof companies, generate attractive returns and make a positive impact with everything EQT does.
The EQT AB Group comprises EQT AB (publ) and its direct and indirect subsidiaries, which include general partners and fund managers of EQT funds as well as entities advising EQT funds. EQT has offices in more than 25 countries across Europe, Asia and the Americas and has approximately 1,900 employees.
More info: www.eqtgroup.com
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