EQT Partners, a private equity fund operated by Sweden’s largest conglomerate Wallenberg Group, is reportedly promoting an investment of about 2 trillion won in SK Shieldus, a Korean security company.
Wallenberg Group has invested in major global companies through diverse investment arms. It has stakes in Electrolux, a general home appliance company, Ericsson, a telecommunication equipment manufacturer, Saab engaged in the defense business, and AstraZeneca, a pharmaceutical company that developed a COVID-19 vaccine.
EQT Partners is in talks with a Macquarie PE consortium to acquire its 36.87 percent stake in SK Shieldus. The consortium is the second-largest shareholder of SK Shieldus. It reportedly estimates SK Shieldus’ enterprise value at 4 to 5 trillion won. The value of the Macquarie PE consortium’s stake ranges from about 1.4 trillion won to 1.9 trillion won. Currently, SK Square, the largest shareholder of SK Shieldus, owns a 63.13 percent stake. EQT Partners may become the largest shareholder, depending on the results of the negotiations.
EQT Partners is one of the world’s largest private equity funds, with total assets under management (AUM) amounting to 90 billion euros as of 2022. Investor AB, an investment holding company within Wallenberg Group, set up EQT Partners in 1994.