EQT's private wealth business eager to tap Indian wealthy

The Swedish PE firm has invested a third of its current fund and the previous one in India

- Sneha Shah & Ranjani Raghavan

Global private equity firm EQT is looking to bring its private wealth business to Asia, particularly India in the near term, though there would be regulatory milestones it would need to clear, a senior official said.

The Swedish private equity (PE) firm has invested $6 billion over the last 18 months in India having adopted a buyout strategy through which the investor has picked controlling stakes in businesses such as Indira IVF and HDFC Credila, Indostar, and Gebbs, among others.

Traditionally, EQT like its peers has raised capital largely from sovereign wealth funds, institutional investors and large family offices-looking to expand their exposure to Asian markets. It closed its $14.5 billion EQT Private Capital Asia's BPEA Private Equity Fund IX last month to invest across Asia in markets such as Japan, India, Australia and Southeast Asia. A third of its current fund and the previous one has been invested in India.