Q3 2025 EQT AB Earnings Call Transcript
Key Points
- EQT AB (EQBBF) realized EUR19 billion in exits over the past 12 months, significantly outperforming the industry average.
- The company launched a European long-term investment fund and a successor fund within its active core Infrastructure strategy, enhancing its product offerings.
- EQT AB (EQBBF) has strong momentum in its flagship fundraisings, with BPEA IX exceeding its target size and EQT XI receiving positive client reception.
- The company is making significant investments in AI and tech platforms to improve productivity and operational efficiency.
- EQT AB (EQBBF) is well-positioned to benefit from global diversification trends, offering investment opportunities across the US, Europe, and Asia.
- The company faces macro and political uncertainties, including global trade issues, which could create volatility.
- There is a potential challenge in achieving the targeted EUR10 billion in Evergreen fund inflows, with current inflows significantly lower.
- The company is undergoing headcount reductions and cost optimizations, which may impact employee morale and operational capacity.
- EQT AB (EQBBF) has not yet generated cash carry from EQT VIII and BPEA VII, indicating a delay in cash returns.
- The company's value creation, adjusted for FX, is down from historical levels, reflecting a challenging market environment.
Good morning, everyone, and welcome to EQT's Q3 announcement. A quarter where we've continued to deliver on our priorities. We maintained focus on exits and returning liquidity to our clients, having realized 19 billion across the globe over the past 12 months.
We continue to deliver on our fundraising agenda with good momentum in our flagship fundraises and certain other strategies. We launched a European long-term investment fund to complement our Nexus product suite and we launched a successor fund within our active core Infra strategy, our first open-ended structure for the Institutional segment.
All while continuing to deliver returns for our clients with half of our key funds performing on plan and half performing above plan. Finally, the Nomination Committee has proposed that Jean Salata becomes Chair of EQT, as our Founder and Chair Conni Jonsson expects to step down from his role at our AGM in May '26.
And with that, I'll hand it over to you, Per. Next slide, please.
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