Swedish group EQT Partners kicks off in real estate

Swedish investment advisory firm EQT is making its first foray into European real estate, having previously given the sector a wide berth. The firm has hired the two founders of UK property group Wainbridge to spearhead its strategy, which will see it investing in opportunistic and value-added real estate in the main European markets, including Germany.

EQT has raised €22bn for private equity investments since it was established in 1994 by Swedish family Wallenberg’s vehicle Investor AB, bank SEB and the US-based AEA Investors. The group has since attracted investment funds from a wide variety of insurance companies, pension funds, sovereign wealth funds, funds-of-funds and family offices, and operates across the world with a wide network of partners and independent ‘Industrial Advisors’ with strong local industrial and geographic knowledge.

Edouard Fernandez and Rob Rackind of Wainbridge are setting up the European platform and will become partners in EQT, the firm said. “There are new real estate opportunities opening up across Europe,” Racking said. “From the EQT platform, we can add a fresh approach when investigating business possibilities.”

Lennart Blecher, EQT deputy managing partner and head of infrastructure, said: “The real estate segment has long been dominated by North American private equity firms. There is a market opportunity for a pan-European player, applying opportunistic and value-add strategies.”

EQT said it has also recruited Fredrik Elwing as a director. Elwing had been managing director in Greenhill & Co’s Real Estate Capital Advisory group until July last year.