EQT AB (publ) (EQT) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everyone, and welcome to EQT's Q1 announcement 2026. It's been a busy first quarter at EQT. We kicked off the year by announcing the combination with Color Capital. In Galderma, we completed the largest sponsor-backed block trade ever to deliver the largest single fund capital gain ever. We closed BPA9 at hard cap. We launched our new AI infrastructure strategy, and we had a record quarter in terms of net inflows to our evergreens. This quarter again faced significant volatility across markets, which affected our fund valuations in different directions. So we'll cover all of these points in further detail over the next 30 minutes. And with that, let me hand over to Per. Next slide, please. Thank you, Olof. And good morning, everyone, from IKT's London office. It's been a volatile quarter driven by rapid advances of AI technology, as well as geopolitical uncertainty. And that uncertainty having a short-term impact on energy prices and also the broader macroeconomic outlook. In this environment at DQT, we remain focused on executing on our strategic priorities. And as we're entering the second quarter, I'm happy to say that we continue to see strong and broad-based momentum across our business. You will have seen that we yesterday in our infrastructure strategies launched our new AI infrastructure fund, seeded by our highly successful investment in EdgeConnex. Our infrastructure business has seen strong deal flow during the quarter and been very active since the start of the year. Most notably, we launched a $30 billion plus public takeover offer for AES, a very exciting and highly thematic investment in the energy sector. In private capital, we pursued a number of attractive new investments out of our early stage strategies, and we continue to monetize i...