Swedish private equity firm EQT has established a dedicated Middle East platform with the opening of a new office in Abu Dhabi as international investment firms continue to expand their presence across the Gulf, according to a report by Reuters.
The new platform is intended to strengthen EQT’s relationships with institutional investors in the region, support existing portfolio companies and identify new investment opportunities across the Middle East, the firm said.
Jimmy Mahtani, who has been appointed chairman of EQT’s Gulf operations, will oversee the platform, while Middle East head Smiyet Belrhiti will lead the new Abu Dhabi office.
The team will include professionals focused on private capital and infrastructure investments, as well as capital raising and business operations.
EQT, which has approximately $389bn in assets under management, already has portfolio companies with operations in the Gulf, including education provider Nord Anglia Education.
EQT chief executive and managing partner Per Franzén said the launch reflected the firm’s confidence in the scale of investment opportunities across the Gulf Cooperation Council.
Abu Dhabi has become a major centre for the global alternatives industry, supported by the presence of large sovereign investors. The UAE capital is home to the country’s largest concentration of sovereign wealth assets, with its major funds estimated to collectively manage more than $1.8tn.
