It all comes back to the DNA.
The firms that know who they are will know who to be.
You can learn a lot about an investment firm by listening to what they say.
Alt Goes Mainstream’s AGM Originals Series - 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. In Stockholm, at EQT’s AIM this past summer, I sat down for conversations with nine EQT executives.
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 worked to build EQT.
But there was a single throughline threaded throughout all of the discussions: the consistency and frequency that each executive talked about the firm’s mission, vision, culture, and values.
That’s why it all comes back to the DNA.
Episode 2 features EQT's Jean Eric Salata.
Jean Eric Salata is the Chairperson EQT Asia and Head of Private Capital Asia. Jean started the regional Asian private equity investment program for UK-based Baring Private Equity Partners Ltd in 1997 and later led the management buyout of this program in 2000 to establish BPEA as an independent Firm. He has since been responsible for the investment activity of BPEA until 2022, when the company joined forces with EQT and was renamed BPEA EQT.
Prior to BPEA, Jean was a Director of Hong Kong-based AIG Global Investment Corporation (Asia) Ltd., the Asian private equity investment arm of AIG. Prior to that, Jean was the Executive Vice President of Finance of Shiu Wing Steel, a Hong Kong-based industrial concern, and prior to that a management consultant with Bain & Company based in Hong Kong, Sydney, and Boston.
Jean holds a B.S. (Hons) in Finance and Economics from the Wharton School of the University of Pennsylvania, where he graduated magna cum laude.
Please enjoy this conversation with one of the industry's leaders in Jean Eric Salata.
You can stream all the episodes on AGM’s YouTube channel at AltGoesMainstreamAGM.
Show Notes
00:00 Introduction: The DNA of Firms
00:34 Conversations with EQT Executives
01:05 Jean Salata: Chairperson of EQT Asia
01:32 Jean's Early Life and Career
02:26 Journey to Asia
03:28 Cultural Comparisons and Private Equity
04:45 The Asian Private Equity Market
05:09 Structural Alpha in Asia
06:12 Shareholder Activism in Japan
06:45 Liquidity in Indian Stock Market
08:10 Evolution of BPEA's Strategy
10:16 Challenges and Opportunities in Asia
11:42 EQT's Partnership and Culture
12:04 Building a Lasting Enterprise
13:23 Industry Consolidation Trends
14:54 Growth Opportunities in Asia
15:24 Rebalancing Capital to Asia
16:07 Underpenetration in Private Equity
18:17 Family Businesses and Generational Change
18:46 Wallenberg Heritage and EQT's Reputation
20:02 Long-term Growth in Asia
20:50 Mid-Market Growth Fund
21:21 Exit Market in Asia
23:01 Perceived vs. Actual Risk in Asia
23:49 Thematic Investing and Value Creation
24:32 Alpha in Asian Markets
25:35 Intellectual Stimulation in Asia
26:44 Leadership and Continuous Learning
28:38 Motivation and Career Development
31:12 Conclusion and Final Thoughts