EQT Acquires Coller Capital for $3.2 Billion to Enter Secondaries Market

Swedish private equity firm EQT AB has announced its agreement to acquire British investment firm Coller Capital for $3.2 billion. This acquisition marks EQT's strategic entry into the rapidly expanding secondary market, which allows investors to sell private equity fund investments to release capital. The deal is expected to close in the third quarter of 2026, pending regulatory approvals and investor consents.

ReutersEQT To Acquire Coller Capital In $3.2 Billion Share Deal, Launching New Secondaries SegmentBloombergEQT strikes $3.2bn deal for Coller Capital to enter secondaries market – Private Equity InsightsSweden: EQT entering secondaries market with acquisition of Coller CapitalBloomberg

The acquisition will be funded primarily through newly issued EQT shares priced at 355 Swedish crowns ($39.17) per share, amounting to approximately 81 million shares, or about 7% of EQT's outstanding shares. Additionally, the agreement includes up to $500 million in contingent consideration based on Coller Capital's performance through March 2029. EQT anticipates that the transaction will be "mid-single-digit accretive" to its fee-related earnings.

BloombergEQT To Acquire Coller Capital In $3.2 Billion Share Deal, Launching New Secondaries SegmentReutersEQT strikes $3.2bn deal for Coller Capital to enter secondaries market – Private Equity InsightsSweden: EQT entering secondaries market with acquisition of Coller CapitalBloomberg

Coller Capital is recognized as one of the largest dedicated secondaries investors globally, managing nearly $50 billion in total assets, with $33 billion in fee-generating assets under management as of December 31, 2025. The firm has a 35-year track record focused exclusively on secondary transactions, having invested almost $18 billion across over 100 transactions. Following the acquisition, Coller Capital will operate as "Coller EQT," maintaining its independent origination and investment processes while integrating into EQT's broader investment platform.

EQT To Acquire Coller Capital In $3.2 Billion Share Deal, Launching New Secondaries SegmentEQT strikes $3.2bn deal for Coller Capital to enter secondaries market – Private Equity InsightsReutersSweden: EQT entering secondaries market with acquisition of Coller CapitalBloombergBloomberg

The acquisition positions EQT to capitalize on the growing demand for liquidity solutions in private markets. Industry data indicates that secondary deal volumes surged by 41% in 2025, reaching $226 billion, and are projected to more than double by 2030. EQT aims to leverage Coller’s expertise to enhance its offerings across institutional, private wealth, and insurance clients, while also expanding into adjacent categories such as real assets.

EQT To Acquire Coller Capital In $3.2 Billion Share Deal, Launching New Secondaries SegmentEQT strikes $3.2bn deal for Coller Capital to enter secondaries market – Private Equity InsightsSweden: EQT entering secondaries market with acquisition of Coller CapitalReutersBloombergBloomberg

Per Franzen, CEO and Managing Partner of EQT, stated, “Entering the secondaries space with Coller represents a natural and important step in EQT’s strategic development.” He expressed confidence in the potential to double the size of Coller’s business within four years. Jeremy Coller, CIO and Managing Partner of Coller Capital, emphasized the partnership as a defining moment, stating, “We are bringing more than 35 years of secondaries expertise to EQT to realize our shared ambition to shape the future of private markets.”

EQT To Acquire Coller Capital In $3.2 Billion Share Deal, Launching New Secondaries SegmentEQT strikes $3.2bn deal for Coller Capital to enter secondaries market – Private Equity InsightsReutersSweden: EQT entering secondaries market with acquisition of Coller CapitalBloombergBloomberg

While the acquisition is largely viewed positively, some analysts express caution regarding the integration of Coller Capital into EQT's existing structure. Concerns have been raised about maintaining Coller’s independent investment culture amidst the larger corporate framework of EQT.

EQT strikes $3.2bn deal for Coller Capital to enter secondaries market – Private Equity Insights

EQT's acquisition of Coller Capital signifies a strategic move into the burgeoning secondaries market, enhancing its capabilities and positioning within the private equity landscape. The combined strengths of both firms are expected to create a robust platform for delivering innovative investment solutions to a diverse client base.

Sweden: EQT entering secondaries market with acquisition of Coller Capital