STOCKHOLM (dpa-AFX) - Swedish investment firm EQT AB (EQT.ST, EQBBF) Thursday announced that it has signed an agreement to acquire U.S. real estate investment manager Stockbridge for base consideration of $375 million in cash.
Additional consideration of up to $175 million, in the form of earnouts, may become payable across 2027 to 2030 subject to set performance targets.
The transaction is expected to close in the first quarter of 2027, subject to customary closing conditions including investor consents.
San Francisco-based Stockbridge operates approximately 185 professionals across six U.S. offices serving approximately 180 institutional clients
The company holds approximately $16.5 billion in fee-generating assets under management and $27 billion in gross asset value.
Following the deal closure, Stockbridge is expected to become part of EQT Real Estate, with its diversified and alternative strategies operating as a dedicated business unit.
Its industrial capabilities will be integrated with EQT Real Estate's existing industrial platform.
Stockbridge CEO Terry Fancher will become Vice Chair of EQT Real Estate, reporting to Henry Steinberg, Global Head of EQT Real Estate. Stockbridge CFO Kristin Renaudin will become Global CFO of EQT Real Estate, and Tuba Malinowski, currently Executive Managing Director at Stockbridge, will become Head of U.S. Diversified Real Estate.
Stockbridge will transition to the EQT Real Estate brand at closing, with existing funds retaining their current naming conventions.
Stockbridge is expected to contribute approximately $35 million to $45 million of fee-related EBITDA in 2027, representing a margin of approximately 30% to 35%.
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