EQT Acquires Coller Capital for $3.2 Billion

EQT AB has announced its agreement to acquire Coller Capital, a prominent player in the secondaries market, for a total consideration of $3.2 billion. The deal, which is expected to close in the third quarter of 2026, will significantly enhance EQT’s presence in the private equity landscape, particularly in the fast-growing secondaries sector.

Founded in 1990, Coller Capital is recognized as a pioneer in the secondary market for private assets, managing nearly $50 billion in total assets under management. This includes approximately $33 billion in fee-generating assets. The firm has established a strong reputation for providing liquidity solutions to both general partners and limited partners, leveraging its extensive global network and expertise.

The acquisition is structured with a base consideration of $3.2 billion, funded through newly issued EQT ordinary shares, alongside up to $500 million in contingent consideration based on Coller Capital’s performance over the next few years. Jeremy Coller and his leadership team will continue to manage Coller Capital, ensuring the independence of its origination and investment processes.

Per Franzén, CEO and Managing Partner of EQT, stated, “Entering the secondaries space with Coller represents a natural and important step in EQT’s strategic development. Secondaries have become an increasingly important tool for clients in managing liquidity and portfolio construction.”

The strategic rationale behind this acquisition is to leverage Coller Capital’s specialist expertise and established client solutions platform to enhance EQT’s multi-strategy investment approach. The secondaries market is projected to more than double by 2030, driven by increasing demand for liquidity solutions and innovative investment strategies.

As part of the integration, EQT plans to utilize Coller Capital’s capabilities to expand its offerings in the Asian markets, where the secondaries market remains underpenetrated. This move is expected to strengthen relationships with institutional clients and enhance EQT’s product offerings across private equity, infrastructure, and real estate.

Financially, the deal is expected to create significant synergies, including cross-selling opportunities and shared operational costs. Coller Capital’s fee-generating assets are anticipated to reach approximately $40 billion by the end of 2026, generating substantial fee-related revenue and EBITDA.

UBS is acting as the financial advisor to EQT, while Morgan Stanley is advising Coller Capital. The transaction is subject to customary closing conditions, including regulatory approvals and investor consents.

In conclusion, this acquisition positions EQT to become a leading player in the secondaries market, enhancing its capabilities and expanding its reach in the private markets.