EQT is planning to deploy up to $50bn in India by 2030, with the private markets group targeting data centres, renewable energy and private equity as it seeks to expand its presence in one of Asia’s fastest-growing investment markets, according to a report by Bloomberg.
The report cites Jean Salata, chair of EQT, as revealing that around $30bn of the planned spending is expected to go towards data-centre infrastructure, while a further $5bn will be earmarked for renewable energy projects and related infrastructure needed to power the facilities.
A significant part of the data-centre strategy will be pursued through EdgeConneX, EQT’s portfolio company, including its existing partnership with Adani Enterprises. EdgeConneX and Adani Enterprises established AdaniConnex in 2021 as a 50-50 joint venture focused on developing data-centre infrastructure in India.
The strategy gives EQT exposure to the growing demand for computing capacity being generated by AI, while linking its data-centre investments with the expansion of renewable power and energy storage.
Salata said India is currently responsible for less than 5% of EQT’s global infrastructure investments, leaving significant scope for the firm to increase its exposure.
Adani Group said earlier this year that it intends to invest $100bn by 2035 to develop green-powered, AI-ready data centres, highlighting the scale of the infrastructure buildout that EQT is targeting through AdaniConnex.
Alongside infrastructure, EQT plans to invest between $15bn and $20bn in Indian venture capital and buyout private equity by 2030. The firm has invested $26bn in India across 30 investments since entering the market in 1998, including around $7bn since 2023.
Its Indian private equity portfolio includes healthcare business Indira IVF Hospital, financial services company Credila Financial Services and several IT services businesses.
