(Telestock) – S&P Global Ratings has assigned an “A-” rating to EQTa Swedish alternative asset manager with assets under management (AUM) of EUR 242 billion and fee-paying AUM (FPAUM) of EUR 132 billion, as of 31 March 2024, in the private equity, infrastructure, and real estate segments covering all stages of business development.
The rating agency writes that the geographical footprint and the business mix adequately diversified allow EQT to maintain stable profitability metrics that compare favorably with other alternative asset managers with similar AUM profiles. However, EQT’s business profile is more concentrated than other players that offer a broader range of products, including credit strategies in particular.
L’high profitability and cash generationcombined with a conservative leverage profile, result in minimal adjusted debt to EBITDA, and EQT’s financial policy tends to support low leverage metrics and a prudent approach to mergers and acquisitions.
L’stable outlook embodies the vision that EQT will continue to see strong fundraising within its flagship funds and play a dominant role in the sectors in which it operates, while maintaining leverage metrics at minimum levels below 1x.