EQT appoints Per Franzén as new CEO

Investing.com -- EQT (ST:EQTAB) on Monday appointed Per Franzén as its new chief executive. Franzén, who will take up the role in May, is set to become the third CEO in the firm’s 11-year history. 

His appointment follows Christian Sinding’s decision to step down from the role after overseeing the company’s transformation from a private firm to a publicly traded entity. 

Sinding, who was appointed CEO just before EQT’s IPO in 2019, will later this year assume the position of chair of the newly established advisory council.

Franzén’s promotion comes at a time when the private equity company is evolving into a more mature, publicly listed company. 

Despite the leadership change, he said that the move is a natural step for the firm, noting that EQT has a culture that embraces leadership changes to bring in fresh perspectives. 

This ongoing practice, he explained, is part of the firm's broader governance model, which aims to constantly improve and adapt.

With nearly two decades of experience at EQT, Franzén is no stranger to the firm. He is currently the deputy managing partner and head of the firm’s private equity operations in Europe and North America, EQT's largest business segment. Under his leadership, this segment saw assets under management more than double to €113 billion. 

His role in overseeing a €22 billion fundraising for the firm’s flagship buyout fund further highlights his deep involvement in the firm's core operations.

EQT’s performance over the past year reflects the company’s success and growth trajectory. 

In its most recent full-year report, the firm reported a 72 percent increase in proceeds from exits, a 27 percent rise in capital deployment, and a 5 percent increase in fee-generating assets under management. 

These figures signal that the company is on a strong footing as it prepares for the next phase under Franzén’s leadership.

Sinding, who played a crucial role in expanding EQT from a market capitalization of approximately €7 billion at the time of its IPO to around €40 billion today, will remain closely involved with the company. 

While transitioning to his new role as chair of the advisory council, Sinding will continue to serve as the chair of EQT’s global investment forum and maintain a presence on several of the firm’s fund investment committees.

The appointment of Franzén marks the beginning of a new chapter for EQT, as the firm continues to refine its strategies and operations while focusing on areas such as infrastructure investments related to the transition to renewable energy. 

The leadership change also follows the company’s recent announcement of its plans to form a new advisory council, which initially included former NATO Secretary-General Jens Stoltenberg before he decided to join the Norwegian government instead.