Jean Eric Salata nominated to succeed founder Conni Jonsson as Chairperson of EQT's board

Jean Eric Salata nominated to succeed founder Conni Jonsson as Chairperson of EQT's board

A top deck reshuffle is on the cards at the world's second largest private equity firm, Swedish investment giant EQT.

Jean Eric Salata, Chairperson EQT Asia and Head of Private Capital Asia, has been nominated to become the next Chairperson of EQT’s Board, subject to approval at the firm's annual shareholders’ meeting in May 2026, and regulatory nods.

Salata is set to succeed founder Conni Jonsson, a European private equity pioneer, who established EQT in 1994.

"Jean founded Baring Private Equity Asia in 1997, leading its transformation into one of Asia’s most successful private markets firms. In 2022, BPEA and EQT merged, and since then, Jean has Chaired EQT Asia – a remit that spans Private Capital, Infrastructure and Real Estate – while helping shape EQT’s global strategy as a member of the Executive Committee. Today EQT Asia is a cornerstone of the firm’s global platform, having deployed more than $ 35 billion of equity in over 180 transactions and raised some of the largest funds in the region’s history," said an official announcement by the firm on October 6.

"Under Conni’s leadership, EQT has grown into one of the world’s largest private markets investors, with EUR 266 billion in total AUM and a portfolio of more than 300 companies that employ around 650,000 people globally, " the announcement added.

EQT, which is backed by one of Europe's prominent industrial families , Sweden's Wallenberg's, ranks as the second-largest private equity firm globally by capital raised and the largest alternative investment platform in Europe across private equity, infrastructure, and real estate, as per its half-year report for 2025.

Salata would, if elected, assume the position as Chairperson of EQT’s Board in addition to his current role as Chair of EQT Asia, through which he will remain Chair of EQT’s Private Capital Asia investment committees. As Honorary Chair and Founder, Conni will continue to be involved with EQT, including as a member of the EQT Council and as member of the EQT Foundation.

Commenting on his nomination, Jean Eric Salata said: “I am deeply honored and grateful for the trust placed in me as nominee to succeed Conni as Chairperson of EQT’s Board. Conni’s leadership over three decades has transformed EQT into one of the world’s leading investment firms, built on strong values, world-class talent and a long-term commitment to delivering superior returns for our investors. As EQT enters its next chapter, I look forward to working closely with the Board and CEO Per Franzén to continue building this remarkable business, accelerating our global growth, and creating value for our clients, portfolio companies, and shareholders.”

Conni Jonsson added: “EQT today has a strong global foundation, a clear strategy and an exceptional leadership team ready to capture the opportunities ahead. We have always worked tirelessly to develop the next generation of leaders, as professional succession planning is key to long-term success. I know EQT is in the best hands possible, so I have decided that now is the right time to step down. Jean knows what it takes to build and lead a high-performing, cross-border, multi-asset class business through cycles, and Per Franzén is an exceptional investor who has shown outstanding leadership throughout his time at EQT. With them at the helm, I have complete confidence in EQT’s continued development as a global investment leader.”

Hari Gopalakrishnan is the Head of India and Co Head of Services for EQT. EQT's India portfolio includes IPO-bound Indira IVF, Credila Financial Services and Niwas Housing Finance (formerly known as IndoStar Home Finance). Healthcare focused BPM and digital transformation player Sagility India, which made its debut on the domestic bourses on December 12 is also part of the domestic portfolio.

During a media roundtable in December, Jean Salata said the buyout market is "underpenetrated" in India and EQT seeks to replicate the success achieved by the firm earlier in the IT services segment with similar, control deals in the healthcare and financial services segment.

Per Franzen, who took over from Christian Sinding as EQT's CEO and Managing Partner in May, expects more deal activity and capital deployment in India and Japan during the second half of the year, Moneycontrol reported on July 17.

On May 20, Moneycontrol was the first to report that Blackstone had emerged as the lead contender for the mega $1.1 to $1.3 bn buyout of EQT-promoted healthcare IT services firm AGS Health.

Earlier this year, top fertility services provider Indira IVF, an EQT portfolio company, re-filed its draft papers with market regulator Sebi via the confidential route to reportedly raise Rs 3,500 crore from an IPO , after a withdrawal in March.

The country's leading education loans financier, Credila Financial Services, which is backed by EQT and ChrysCapital also filed draft papers with Sebi to mobilise Rs 5,000 crore via an IPO. It was earlier known as HDFC Credila Financial Services.

In M&A action, in September 2024, ChrysCapital signed a definitive agreement to sell a controlling beneficial interest in GeBBS Healthcare Solutions Private Limited, a provider of revenue cycle management (RCM) services and risk adjustment solutions to EQT. The transaction, one of the biggest in the Indian BPO space in recent times, likely valued GeBBS Healthcare between $800-850 million.

Moneycontrol was the first to report on September 5 that the Swedish investment major was the lead contender to bag the deal.

The firm also completed its acquisition of affordable housing finance player Niwas Housing Finance (formerly known as IndoStar Home Finance) earlier this year. It will invest $58 mn as growth capital for geographic expansion and enhanced digital capabilities.