PE firm EQT appoints veteran Per Franzén as CEO
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The news: European buyout group EQT has appointed Per Franzén as its incoming chief executive, the firm’s third leader in 11 years.
Franzén, currently deputy managing partner and head of private capital across Europe and North America, will assume the role in May.
The context: Christian Sinding, who took up the post only months before the firm went public in 2019, will transition later this year to become chair of the Stockholm-listed group’s newly formed advisory council.
Sinding led EQT’s expansion from a market capitalisation of about €7 billion at its IPO to about €40 billion today, including the firm’s recent €22 billion fundraising effort for its flagship private equity fund.
He will continue to chair the global investment forum and serve on several EQT fund investment committees.
The numbers: Founded in 1994 EQT today manages €269 billion ($442.75 billion) in assets. Last month, the firm reported a 72% increase in proceeds from exiting companies over the year, a 27% rise in capital deployment and a 5% increase in fee-generating assets under management compared with the previous year.
What they said: “Going from being employee number eleven to having nearly two thousand fantastic colleagues in over twenty markets is an unforgettable journey,” Sinding said. “Together, we have shown that a values-driven firm, which attracts and retains exceptional people, can deliver excellent performance that in the process benefits both our clients and the world at large.”
The sources: EQT statement, FT
