EQT, a global private equity fund (PEF) operator affiliated with the Wallenberg family in Sweden, is replacing its chief executive officer.
EQT announced on the 20th that it will appoint Per Franzen as the new chief executive officer and managing partner overseeing the institutional sector in Europe and North America. Franzen's term will begin after the resolution at the regular shareholders' meeting on May 27. Christian Sinding will assume the chairmanship of the newly formed EQT committee.
Franzen, the new chief executive officer, is a private equity expert who joined EQT in May 2007 and has worked there for over 20 years. He also set a record last year for the largest private equity fund formation globally by raising a 22 billion euro (approximately 33.2 trillion won) tenth fund. Prior to joining EQT, he worked at Morgan Stanley, where he handled mergers and acquisitions (M&A), leveraged finance, and Nordic finance.
Franzen noted, "I aim to further develop the company based on EQT's global platform," adding, "I will do my utmost to uphold EQT's core values and provide the best value to our clients and shareholders."
EQT, headquartered in Sweden, began investing in Korea in 2009. Its major portfolio corporations include SK shieldus and the recently acquired KJ Environment. All are regarded as 'big deals' with transaction volumes in the trillions. The European and North American private equity sectors of EQT manage assets worth 113 billion euros (approximately 170.5 trillion won).