EQT agreed on 22 January to acquire Coller Capital, one of the largest investors in private-equity secondaries, for base consideration of $3.2bn paid almost entirely in EQT shares.
Why EQT AB is buying Coller Capital
EQT said secondaries deal volume rose 41% in 2025 to $226bn and is expected to more than double by 2030. The deal adds a third business line alongside private capital and real assets, extends Coller into real assets, Asia and insurance solutions, and brings four evergreen products with $4.1bn of net asset value for wealth clients. EQT expected mid-single-digit accretion to fee-related earnings.
“Entering the secondaries space with Coller represents a natural and important step in EQT's strategic development.”
Deal terms and financing
About $65m of the base price is paid in cash and the rest in roughly 81 million new EQT shares priced at SEK 355. Up to $500m of further cash depends on performance over the 12 months to March 2029; key managers other than Jeremy Coller committed to reinvest net proceeds in EQT shares.
Regulatory approvals and timing
Closing required regulatory approvals and consents from certain Coller fund investors. EQT completed the combination on 31 August 2026, issuing 80.36 million shares.
Market context
Coller Capital, founded by Jeremy Coller, had nearly $50bn of assets under management at the end of 2025. Its latest private-equity secondaries flagship, CIP IX, closed at $14.2bn.
