Europe’s top private markets firm EQT sets up first Middle East base in Abu Dhabi

EQT, Europe's largest private markets investment firm with $389 billion in client assets, has established its first Middle East office in Abu Dhabi's financial hub, ADGM. This strategic move aims to capitalize on the growing investment opportunities across the Gulf region, as EQT seeks to build its regional platform over time. The CEO of EQT, Per Franzen, expressed confidence in the scale and momentum of opportunities in the Gulf Cooperation Council (GCC) member states, highlighting the potential for supporting portfolio companies' growth and investing in new businesses across sectors undergoing transformation.

The firm's global expertise and company-building capabilities are expected to make a meaningful contribution to the GCC's long-term economic development. EQT's foray into the Middle East follows a similar move by $315 billion private credit provider Blue Owl, which also set up a base in Abu Dhabi in June. Despite the ongoing conflicts in the region, the UAE has remained an attractive destination for global asset managers and financial giants.

The ADGM base will enable EQT to deepen its engagement with investors, companies, and partners across the wider Gulf markets. Jimmy Mahtani, EQT's chairman of Gulf operations, leads the new Middle East platform, overseeing its expansion. Smiyet Belrhiti, EQT's senior executive officer for the Middle East, manages the company's operations in the region.

With offices in over 25 countries, EQT now accounts for more than 80% of global economic output, positioning itself as a long-term partner in the development of high-quality companies in sectors crucial to its long-term strategies.