Europe's Leading Private Markets Firm EQT Establishes First Middle East Hub in Abu Dhabi

EQT, Europe’s largest private markets investment firm, is establishing its first Middle East office in Abu Dhabi’s financial centre, ADGM, joining a growing roster of global asset managers expanding in the emirate.

The firm, which manages $389 billion in client assets, will use Abu Dhabi as the base for its new Middle East platform as it seeks investment opportunities across the Gulf, EQT stated. The expansion reflects the distinct priorities and market dynamics across the Gulf and wider Middle East, with EQT planning to build out its regional platform over time.

“The launch of EQT's Middle East platform reflects our conviction in the scale and momentum of opportunity across the GCC,” said Per Franzen, chief executive and managing partner at EQT, referring to the Gulf Co-operation Council. He noted that the company sees significant opportunities to support the growth of existing portfolio companies and invest in new businesses across sectors undergoing structural transformation.

EQT's entry on the ADGM roster follows $315 billion private credit provider Blue Owl’s move to set up a base in Abu Dhabi in June. The two are among several alternative investment managers that have chosen the emirate as a base, underscoring its continued appeal for global asset managers despite regional uncertainties.

A base in the UAE capital provides global investors and money managers with opportunities to expand regional operations and work closely with sovereign wealth funds, large family offices, and institutional partners. EQT's Middle East platform is led by Jimmy Mahtani, who has been appointed chairman of Gulf operations alongside his role as chairman of South and South-East Asia for EQT Private Capital. Meanwhile, the ADGM office is led by Smiyet Belrhiti, appointed as senior executive officer.