Investor Anger Emerges Over EQT’s $2.7 Billion Broken Promise

A move by EQT AB’s partners to sell stock worth $2.7 billion a year earlier than stipulated in a lock-up agreement is sowing discontent among the private equity firm’s investor base.

One such stakeholder is Emilie Westholm, the head of responsible ownership at Swedish insurer Folksam Group. “If a lock-up is broken prematurely, it should be justified clearly and with relevant information,” she told business daily Dagens Industri.

Instead, Westholm says she finds herself “in a situation where there is speculation that it’s only about profit taking from those who have been covered by the lock-up.”

The sale ...