EQT, a global private markets firm, has officially opened an office in the Abu Dhabi Global Market (ADGM) as part of its strategy to enhance its Middle East investment platform. This new office aims to facilitate investment and client engagement in the UAE, allowing EQT to better support its portfolio companies and explore new opportunities in the region, as reported by Economy Middle East.
The Abu Dhabi office will house professionals from EQT’s Private Capital and Infrastructure investment teams, alongside capital raising and operations staff. The firm intends to leverage this local presence to deepen relationships with regional institutions and enhance its support for existing portfolio companies operating in the GCC.
Jimmy Mahtani, Chairman of GCC at EQT, highlighted the significance of this move, noting the evolving economic landscape of the region and the increasing institutional maturity of the GCC. He pointed out that the region is witnessing diverse capital pools and a structural shift towards economic diversification beyond oil.
Jean Eric Salata, Chair of EQT Group, emphasized that the firm’s longstanding relationships with major regional investors were pivotal in establishing a local team. He stated that this commitment reflects EQT’s dedication to the GCC market.
Leading the Abu Dhabi office is Smiyet Belrhiti, EQT’s Head of Middle East and Senior Executive Officer. Belrhiti indicated that the team will focus on strengthening ties with existing portfolio companies, evaluating new investments, and maintaining closer contact with regional investors.
EQT’s portfolio in the region includes companies such as Nord Anglia Education, Virtusa, Banking Circle, Nothing, and SAUR. The firm aims to assist these businesses in expanding their operations in the GCC while also supporting new entrants considering regional expansion.
The firm’s investment interests span various sectors, including healthcare, education, industrials, and business services through Private Capital. In Infrastructure, EQT is particularly focused on digital and AI infrastructure, energy transition, transport and logistics, and water treatment.
Belrhiti noted that healthcare, education, and digital infrastructure are expected to see significant growth in the coming years, reflecting long-term demand in the region. He mentioned ongoing discussions with data center operator EdgeConneX regarding potential partnerships and highlighted a recent public-private partnership involving SAUR in Ras Al Khaimah as an example of active portfolio engagement.
Per Franzén, EQT’s CEO and Managing Partner, the firm sees substantial opportunities for growth within its existing portfolio and in sectors undergoing structural changes. He expressed confidence that EQT’s global expertise could significantly contribute to the long-term economic development of the GCC.
Mahtani reiterated the importance of active ownership in EQT’s strategy, which involves collaborating with portfolio companies to enhance governance, management, and operational efficiencies. This approach, referred to as “future-proofing,” aims to create sustainable value and elevate businesses to new heights.
H.E. Ahmed Jasim Al Zaabi, Chairman of ADGM, welcomed EQT’s establishment in the market, underscoring Abu Dhabi’s capacity to attract international investment firms and long-term capital.
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