2024-04-18 16:19:02 ET
EQT AB (EQBBF)
Q1 2024 Earnings Conference Call
April 18, 2024 2:30 AM ET
Company Participants
Olof Svensson – Head of Shareholder Relations
Christian Sinding – Chief Executive Officer and Managing Partner
Gustav Segerberg – Head of business Development
Kim Henriksson – Chief Financial Officer
Conference Call Participants
Magnus Andersson – ABG SC
Hubert Lam – Bank of America
Arnaud Giblat – BNP Paribas Exane
Jacob Hesslevik – SEB
Angeliki Bairaktari – JPMorgan
Oliver Carruthers – Goldman Sachs
Ermin Keric – Carnegie
Isobel Hettrick – Autonomous Research
Nicholas Herman – Citi
Tom Mills – Jefferies
Haley Tam – UBS
Presentation
Olof Svensson
Good morning, everyone, and welcome to the Presentation of EQT's Q1 Announcement 2024. Let me start by saying thank you to everyone who attended our Capital Markets Day in Stockholm a few weeks ago. And for those who were not able to join us, the presentation materials and the recording of the event are available on the Shareholder Relations section of our website.
For today's call, as always, if you've registered ahead of the call, you should have received an e-mail with your personal PIN code to participate in the Q&A and to make sure that everybody has time to ask questions, we suggest that you focus on the most important topics. And as always, we are available for follow-up's after the webcast.
So thank you all for joining today. And with that, I'll hand over to Christian. Next slide, please.
Christian Sinding
Thanks, Olof. And good morning, everyone. I'm excited now that EQT has entered its fourth decade. And we did this with a big demarcation of closing our largest fundraising ever, which was EQT X at €22 billion. This, of course, is a sign of the partnership we have with our clients and their trust in our ability to deliver strong and resilient returns for the long term.
Now a month ago, we hosted our first Capital Markets Day in Stockholm. There, we clarified our ambitions to become the global leader in private equity, top three in infrastructure while maintaining the number one position within value-add infra and over time, approach the top three in private real estate; a segment, which is quite fragmented today across the top 10 players. Reaching these ambitions comes down to performance for our clients, and this is why we are focused on active ownership. And as we say, we're positively paranoid around all aspects of transforming and improving companies for the future and thus driving fundamental value creation across the cycle.
We're also progressing on our sustainability goals and have now supported almost 40 companies in setting science-based targets. This is actually the largest move towards net zero in our industry and will, of course, also help future-proof our companies and make them more valuable. The key EQT funds are all developing on or above plan. Key fund valuations were slightly up in the quarter. We also had some material valuation uplifts in other funds focused on earlier stage investments, such as EQT Ventures and EQT Life Sciences....
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EQT AB (EQBBF) Q1 2024 Earnings Call Transcript