India is a key focus for EQT's mid-market growth fund
Why this Swedish PE firm is willing to bet $5 billion in India this yearThe Mid-Market Growth strategy—which focuses on the technology, services, and healthcare sectors across Asia, will make investments in South East Asia, Japan and Australia, in addition to India, the firm said. EQT said this strategy “is a natural extension" of its established large-cap buyout platform in Asia.
“We have been investing in Asia for the best part of three decades and now have a fully-scaled and established large-cap platform," said Jean Salata, chairman of EQT Asia and Head of the EQT Private Capital Asia advisory team. "Following this growth, we found that we no longer had a dedicated pool of capital to invest in compelling mid-market companies.
With EQT Private Capital Asia Mid-Market Growth we return to our roots. We already had the track record, local expertise and global capabilities to identify the champions of tomorrow while they are still mid-sized.
Now we have the capital to execute." Through its buyout fund, EQT made a $1.15-billion buyout of HDFC Credila last year and also acquired a majority stake in Indira IVF, valuing the company at $1.1 billion.In April, Salata told Mint that the firm had lined up $5 billion worth of deals in its pipeline for 2024. “At the moment, I have to say that our pipeline is as active as I've ever seen it," Salata said in an interview with Mint in April.“We currently have $5 billion worth of pipeline in advanced stages of final negotiation for investment (in India) this year.
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