Abu Dhabi, UAE – EQT, Europe’s largest private markets firm, is in discussions with sovereign investors in the UAE and Saudi Arabia about joint investments in artificial intelligence and data centre infrastructure, chairman Jean Eric Salata told The National.
EQT at a glance
- About $400 billion in assets, including more than $100 billion in digital and energy assets
- Headquartered in Stockholm; opened an office in Abu Dhabi Global Market (ADGM) in September
- 40 portfolio companies already present in the Gulf, a number EQT expects to grow two to three times over the next five to 10 years
- Portfolio company EdgeConneX operates more than 106 data centres in 25 countries and will drive its Gulf AI infrastructure plans
Close ties with Abu Dhabi capital
The Abu Dhabi Investment Authority (ADIA) is one of EQT’s largest co-underwriters, and Salata described it as one of the firm’s most important partners. ADIA and Mubadala joined EQT’s bid for UK-listed Intertek Group in June.
Why the Gulf
The UAE, Saudi Arabia and Qatar have announced AI investment plans worth about $120 billion since last year, according to IMF estimates, including the planned five-gigawatt UAE-US AI campus and Stargate UAE. Salata said the main constraint on building AI infrastructure is physical, and that long-term capital has strong opportunities in power generation and data infrastructure.
Source: The National
