EQT: the Swedish giant planning $50B of India investment — and India's largest-ever PE fund

EQT is Sweden's global investment organisation, built around the mantra "Specialists first. Global by design." It invests across Private Capital (from university spin-outs to global market leaders), Infrastructure, Real Estate, Secondaries via Coller Capital, and Private Wealth. The firm claims to rank second globally in private equity and fifth in infrastructure by capital raised, with more than 330 portfolio companies employing roughly 1.6 million people. Reuters put its global assets at roughly $295B in October 2024; its current official figure was not captured from its site in this research.

EQT's Asia story runs through the BPEA acquisition, and India sits at its centre. The firm opened a Mumbai office in 2006 and has deployed about $26B across 30 investments in India since 1998 — including roughly $7B in the past three years alone. India now accounts for 25–30% of EQT's Asia private-equity portfolio, making it one of the firm's key markets in the region alongside Japan.

The flagship vehicle is BPEA EQT IX, which closed at $15.6B in April 2026 — the largest private-equity fund ever raised in Asia-Pacific, with India and Japan expected to take roughly 20% each. Alongside it, the BPEA EQT Mid-Market Growth Partnership raised $1.6B for mid-market buyouts across India, Southeast Asia, Japan and Australia. In September 2026 EQT executives announced a plan to invest $50B in India over four years: about $35B into AI infrastructure, data centres and renewables — including EdgeConneX, with $10B already committed and $20B more targeted by 2030 — plus $10–15B through private-equity strategies.

The India portfolio reads like a map of the country's services economy. The signature deal: Sagility, carved out of Hinduja Global Solutions' healthcare-services business in 2021 for Rs 9,000 crore (about $1.2B), rebranded and taken public — featured on EQT's own homepage. Others include Indira IVF, HDFC Credila, GeBBS Healthcare Solutions, CitiusTech, Hexaware, Coforge, WSO2, AIG Hospitals and Indostar Home Finance (a $210M investment in September 2025). It exited O2 Power in a $1.5B sale to JSW Neo Energy.

Leadership reflects the Asia-first shape of the business: Jean Eric Salata chairs EQT Group and leads Asia, while Hari Gopalakrishnan and Nicholas Macksey co-head Private Capital Asia.