Key Takeaways
- • EQT, managing $389 billion in assets, has established a dedicated Middle East platform with a new Abu Dhabi office to strengthen institutional investor relationships and identify investment opportunities across the GCC.
- • Jimmy Mahtani has been appointed chairman of EQT's Gulf operations, with Smiyet Belrhiti leading the Abu Dhabi office as Middle East head; the team will focus on private capital, infrastructure investments, capital raising, and business operations.
- • Abu Dhabi's sovereign wealth ecosystem—with major funds collectively managing over $1.8 trillion—positions the UAE capital as a primary hub for global alternatives investment, supporting EQT's expansion strategy.
- • EQT already operates portfolio companies in the Gulf, including education provider Nord Anglia Education, indicating an established but now formalized regional presence.
- • The move reflects broader trends of international PE firms establishing on-the-ground operations in the Gulf to capture institutional capital and support portfolio company growth across the region.
Summary
Swedish private equity giant EQT has launched a dedicated Middle East platform with the opening of an Abu Dhabi office, establishing formal on-the-ground operations in the Gulf Cooperation Council region. The firm, which oversees approximately $389 billion in assets under management, announced the initiative as international alternative investment managers intensify their presence across the Gulf in response to the region's substantial capital availability.
The new platform serves three primary strategic objectives: strengthening relationships with institutional investors in the Middle East, supporting existing portfolio companies with regional operations, and identifying new investment opportunities across the GCC. Jimmy Mahtani has been appointed chairman of EQT's Gulf operations, with responsibility for overseeing the platform, while Smiyet Belrhiti, the firm's Middle East head, will lead day-to-day operations at the Abu Dhabi office. The team will comprise professionals specializing in private capital and infrastructure investments, alongside dedicated capital raising and business operations personnel.
EQT CEO and managing partner Per Franzén characterized the launch as a reflection of the firm's confidence in the scale of investment opportunities available across the GCC. The decision to establish formal regional operations in Abu Dhabi is underscored by the emirate's emergence as a major global alternatives hub, supported by the presence of large sovereign wealth investors. Abu Dhabi's sovereign wealth funds collectively manage an estimated $1.8 trillion in assets, making it one of the world's most significant institutional capital centers.
The expansion builds on EQT's existing Gulf footprint. The firm already operates portfolio companies with regional presence, including Nord Anglia Education, an international education provider. The new platform formalizes and expands this presence through dedicated local leadership and infrastructure, positioning EQT to more effectively serve its institutional base and execute on pipeline opportunities across the region's robust alternatives market.
The new platform serves three primary strategic objectives: strengthening relationships with institutional investors in the Middle East, supporting existing portfolio companies with regional operations, and identifying new investment opportunities across the GCC. Jimmy Mahtani has been appointed chairman of EQT's Gulf operations, with responsibility for overseeing the platform, while Smiyet Belrhiti, the firm's Middle East head, will lead day-to-day operations at the Abu Dhabi office. The team will comprise professionals specializing in private capital and infrastructure investments, alongside dedicated capital raising and business operations personnel.
EQT CEO and managing partner Per Franzén characterized the launch as a reflection of the firm's confidence in the scale of investment opportunities available across the GCC. The decision to establish formal regional operations in Abu Dhabi is underscored by the emirate's emergence as a major global alternatives hub, supported by the presence of large sovereign wealth investors. Abu Dhabi's sovereign wealth funds collectively manage an estimated $1.8 trillion in assets, making it one of the world's most significant institutional capital centers.
The expansion builds on EQT's existing Gulf footprint. The firm already operates portfolio companies with regional presence, including Nord Anglia Education, an international education provider. The new platform formalizes and expands this presence through dedicated local leadership and infrastructure, positioning EQT to more effectively serve its institutional base and execute on pipeline opportunities across the region's robust alternatives market.
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