EQT to buy UK's Coller Capital for up to $3.7B, expanding into secondaries market.

EQT, a Swedish private equity firm, agreed to acquire U.K.-based Coller Capital for up to $3.7 billion, with a base payment of $3.2 billion in newly issued EQT shares and up to $500 million in performance-based cash consideration. The deal, expected to close in the third quarter of 2026, marks EQT’s strategic entry into the secondaries market, where Coller Capital manages nearly $50 billion in assets. EQT CEO Per Franzen said the acquisition will help meet growing client demand for liquidity and portfolio flexibility, with the combined business projected to double in size within four years. The transaction is expected to be mid-single-digit accretive to EQT’s fee-related earnings.