FINANCE: Swedish private equity firm EQT is diversifying into the real estate sector.
The firm, traditionally seen as an industrials investor, has hired three property veterans to launch the new business in London.
Edouard Fernandez and Rob Rackind, co-founders of UK-based investor Wainbridge, will join EQT as partners, with Fredrik Elwing, formerly of Credit Suisse, joining as a director.
The new business wants to compete directly with the US private equity funds for opportunistic and value-add investment.
Rackind said: “There are new real estate opportunities opening up across Europe. From the EQT platform, we can add a fresh approach when investigating business possibilities.”
Lennart Blecher, deputy managing partner and head of EQT infrastructure at
investment adviser EQT Partners, added: “The real estate segment has long been dominated by North American private equity firms and there is a market opportunity for a pan-European player, applying opportunistic and value-add strategies. With Edouard and Rob, we will be able to explore new exciting investment opportunities.”
EQT has raised more than €22bn (£16.5bn) since its launch in 1994.
