Episode summary
Ep 1 EQT's Conni Jonsson, Founder and Chairperson
Alt Goes Mainstream
· · Hosts: Michael Sidgmore · Guests: Conni Jonsson
Summary
Conni Jonsson says EQT was built around a simple idea: a firm should know its own DNA and stay close to it. He describes growing up on a farm, arriving late to finance, and deciding that being different was an advantage rather than a weakness. That same mindset shaped EQT’s founding in 1994: a private markets firm designed to be a responsible owner, not a generalized asset manager.
He argues that the firm’s culture, mission, vision, and values are not branding exercises but operating tools. By stating clearly what EQT is and is not, he says the firm creates predictability for employees, sellers, and investors, and filters for people who fit its approach. He also says EQT tried other strategies, including credit and turnaround investing, but concluded those were not its DNA.
Jonsson repeatedly returns to long-term ownership, local understanding, and the belief that “good business is great business.” He says EQT should educate investors about illiquidity and diversification rather than rush products to market, and he sees Asia as a long-term growth opportunity. The biggest risk in investing, in his view, is politics, and the best defense is global diversification and patience.
Key takeaways
- Conni Jonsson says EQT’s edge comes from being a distinct owner of companies, not a broad asset manager.
- He argues that predictability and transparency help EQT attract the right people and partners by making its culture visible up front.
- Jonsson says EQT tested credit and turnaround investing, but those strategies “wasn’t our DNA.”
- He believes Asia offers a structural long-term opportunity because of population growth, wealth creation, and market maturation.
- Jonsson warns that politics is the biggest investing risk and says diversification across regions is the main defense.
Notable quotes
“The firms that know who they are will know who be”
“if I'm going to make this why don't try to be myself”
“we are here to create good return for our investors”
“The decisions that we're taking now has to be based on a long-term view”
“good business is great business”
How the episode opens
It all comes back to the DNA. The firms that know who they are will know who be. You can learn a lot about an investment firm by listening to what they say.
Alco's mainstreams AGM Originals, the DNA, capturing culture, is dedicated to capturing the DNA of a firm by listening to what they say. The first season of the DNA stars EQT, a global investment firm started in Stockholm in 1994 that has over€270 billion in AUM. I sat down for conversations with nine AQ executives in Stockholm during the summer at their annual investor meeting.
Each executive came from different parts of the firm and different parts of the world. Each had fascinating backgrounds and stories about how they ended up in private markets and working to build EQ. But there was a single through line threaded throughout all the discussions.
The consistency and frequency that each executive talked about the firm's mission, vision, culture, and values. Episode 1 of season 1, the DNA stars Connie Yansen, founder and chairperson of EQT. Connie, welcome to the show.
Thank you. Great to be here. Well, no, thank you for having me here in Stockholm.
I think it's fascinating setting to discuss so much of what you've built at EQT, how you've built a global investment firm, but really rooted in Nordic heritage and part of the Wallenberg family heritage as well. I'd love for you to start with your background. How did you end up getting into private equity?
I grew up on a farm. I was the youngest youngest boy of four in this family. A very classical farming family.
I was on that farm every day until I was 16 years old every day. And I was in an airplane for the first time when I was like 18 or 19 years old.
From the episode’s captions: roughly the first two minutes, lightly cleaned. Keep watching on YouTube →
Topics
- private markets
- eqt culture values
- wealth channel expansion
- global diversification strategy
- long-term responsible ownership
Companies and tickers mentioned
- EQT
- EQT
Watch the episode
Watch “Ep 1 EQT's Conni Jonsson, Founder and Chairperson” on YouTube
Summary, takeaways and quote selection by Octagon. Quotes are short excerpts; the full conversation is in the episode.
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Alt Goes Mainstream, this episode and its artwork belong to Michael Sidgmore. Octagon is not affiliated with the show; this page is an independent summary.
