EQT to Acquire Stockbridge, Adding US$16.5B in AUM

EQT AB has agreed to acquire Stockbridge, a leading U.S. real estate investment manager with approximately US$16.5 billion in fee-generating assets under management. With base consideration of US$375 million and potentially another US$175 million to be paid over the next four years, the acquisition covers 100% of the Stockbridge management company and the general partner entities which control interests in the Stockbridge funds.

Founded in 2003 and headquartered in San Francisco, Stockbridge has approximately 185 professionals across six U.S. offices and approximately 180 institutional clients. The firm offers specialist depth in traditional property sectors and subsectors, including industrial outdoor storage, alternative living including manufactured housing, and established open-ended core products.

Post-closing, Stockbridge’s diversified strategies and alternative sectors will operate as a dedicated business line within EQT Real Estate, while its industrial capabilities will be brought together with EQT Real Estate’s existing industrial platform.

“Our Real Estate platform is an important part of EQT’s offering to our clients, and this combination represents a significant next step in the development of the business,” said Per Franzén, CEO and managing partner of EQT. “Stockbridge has built an impressive track record over more than two decades and is an excellent fit with EQT Real Estate.”

Existing leadership, investment teams and decision-making processes will largely remain in place, the two companies said Thursday. Stockbridge CEO Terry Fancher will become vice chair of EQT Real Estate, while 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. The acquisition is expected to close in the first quarter of 2027.

Pictured: A Stockbridge industrial property in Perris, CA.

Connect

Inside The Story

EQT

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

Order Reprints