EQT AB (publ) (EQT) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

E-Q-T's half-year report 2026. It's been a busy and successful first half for us. All in, fee-paying AUM at E-Q-T grew 10%. We delivered total revenue growth of 5% and 4% of EBITDA growth versus last year. With significant fundraising activities underway, driving growth into 2027. Before handing over to Per to kick things off, let me ask that we limit questions to two questions in today's Q&A to make sure everyone has sufficient time to answer questions. So with that, let's hand it over to you, Per, to kick things off. Thank you, Onuf, and good morning, everyone. In a challenging and uncertain environment during the first half, we delivered strong performance and made significant progress across the board. We took advantage of a volatile market environment to unlock attractive investments. We were able to leverage our differentiated sourcing capabilities to really create very attractive deal flow for investors. We substantially increased our investment pace compared to last year. And in total, we put 19 billion euros of capital to work and generated 9 billion euros of co-investments. At the same time, we stayed disciplined on exits, building really on the record year of exits that we had in 2025, when we achieved 40 billion euros of distributions. We sent back close to 17 billion euros to our clients during the first half. Across business lines, we launched a number of new strategies, and we currently have more than 20 active funds in the market. In private capital, we were selected for the Scale Up Europe Fund by the European Commission. This win is really a great testament of our market-leading position in Europe and the quality of our early-stage platform. In Asia, we raised the largest Asia-focused private equity fund ever, with BPA9 hitting the hard cap at $15.6...