EQT targets $50bn India investment programme with data centres in focus
TOP STORY: EQT is planning to deploy up to $50bn in India by 2030, with the private markets group targeting data centres, renewable energy and private equity as it seeks to expand its presence in one of Asia’s fastest-growing investment markets, according to a report by Bloomberg.
EQT, a private markets group, is planning to invest up to $50 billion in India by 2030, focusing on data centers, renewable energy, and private equity, according to a Bloomberg report. The report cites Jean Salata, chair of EQT, revealing that approximately $30 billion of the planned spending will be allocated to data-center infrastructure.
A further $5 billion will be earmarked for renewable energy projects and related facilities needed to power these centers. A significant portion of the data-center strategy will be pursued through EdgeConneX, EQT's portfolio company, which already has a partnership with Adani Enterprises. EdgeConneX and Adani Enterprises have a 50-50 joint venture called AdaniConnex, which is focused on developing data-center infrastructure in India.
This strategy provides EQT exposure to the growing demand for computing capacity driven by AI, while linking its data-center investments with the expansion of renewable power and energy storage. Salata mentioned that India accounts for less than 5% of EQT's global infrastructure investments, leaving substantial room for the firm to increase its exposure.
Earlier this year, the Adani Group announced plans to invest $100 billion by 2035 in green-powered, AI-ready data centers, underscoring the scale of infrastructure development EQT is targeting through AdaniConnex. In addition to infrastructure investments, EQT plans to invest between $15 billion and $20 billion in Indian venture capital and buyout private equity by 2030.
Since entering the market in 1998, EQT has invested $26 billion in India across 30 investments, with around $7 billion invested since 2023. EQT's Indian private equity portfolio includes healthcare business Indira IVF Hospital, financial services company Credila Financial Services, and several IT services businesses.
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