EQT AB (SE:EQT) shares were up more than 4% at the time of writing, after the Swedish buyout group announced an agreement to acquire U.K.-based private equity firm Coller Capital for $3.7 billion. EQT’s CEO Per Franzén stated that Coller’s acquisition will mark its entry into the secondaries market, “a natural and important step in EQT’s strategic development.” The acquisition is subject to regulatory approvals and is expected to close in the third quarter of 2026.
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EQT Seeks Growth in Secondaries Space with Coller Deal
Coller Capital is a global secondaries firm with nearly $50 billion in total assets under management (AUM). EQT’s acquisition of Coller includes a base consideration of $3.2 billion, paid via EQT shares issued at Kr355 per share, and up to $500 million in cash payments contingent on certain performance milestones.
EQT believes that the deal would boost the prospects of both companies, enhancing their position in the secondaries market, which is expected to more than double by 2030. The company expects the deal to increase the relevance of its platform for both institutional and private wealth clients. EQT noted that the secondary market grew 41% in 2025, with deal volumes reaching $226 billion.
Franzén expressed confidence in EQT’s ability to double the size of Coller’s business in less than four years. As part of the deal, Coller Capital’s minority shareholder, State Street, will become EQT’s shareholder.
Meanwhile, EQT announced that it ended 2025 with total AUM of €270 billion, with fee-generating AUM rising to €141 billion from €136 billion at the end of December 2024. EQT highlighted that it announced total gross fund exits of €19 billion. Also, the company realized €14 billion for its co-investors, making 2025 its “most active exit year ever” based on total realizations. EQT proposed a total dividend of Kr5, compared to Kr4.30 in the previous year.
Is EQT Stock a Buy, Sell, or Hold?
Currently, EQT AB stock scores a Moderate Buy consensus rating based on one Buy and one Hold recommendation. The average EQT stock price target of Kr 379.50 indicates that shares are fully priced at current levels.
