On March 16, 2022, EQT AB announced an agreement to acquire Baring Private Equity Asia.
Under the terms of the transaction, EQT AB (“EQT”) will acquire Baring Private Equity Asia (“BPEA”) for €6.8 billion (approximately $7.5 billion USD). As part of the transaction, BPEA CEO Jean Eric Salata and BPEA’s senior management team will lead the combined entity, BPEA EQT Asia. In addition to acquiring BPEA’s management company and general partner entities, EQT will acquire the right to carried interest in select existing funds and will be entitled to 35% of the carried interest in all future funds. The deal is expected to close in the fourth quarter of 2022, subject to customary closing conditions.
EQT, based in Sweden, is a global investment company that manages and advises a variety of specialized investment funds and investment vehicles. EQT has approximately €20 billion ($22.2 billion USD) in assets under management.
BPEA, based in the Asia, is a private markets investment manager offering mostly private equity and real estate advisory services. BPEA has approximately €17.7 billion ($19.6 billion USD) in assets under management.
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