Sweden-based EQT said on Monday it is launching a new strategy for private wealth clients to broaden its investor base and offer individuals the chance to invest.

EQT Nexus will be the private equity firm’s first offering for individual investors to make single investments. EQT did not disclose a target for assets under management for EQT Nexus.

KKR, Apollo Global Management, and Partners Group are among rival private equity firms that have considered looking to family offices and private wealth to fill the fundraising gap, as these financial investors face a bleak climate for raising money.

“Private markets are changing. Dealmaking is becoming more innovative, there are higher expectations from all stakeholders, and the sources of capital are evolving,” said Suzanne Donohoe, chief commercial officer at EQT.

The Nexus portfolio will invest in mature buyouts to early-stage investing, focusing on EQT’s private equity and infrastructure funds. It will also co-invest in firms alongside the Swedish sponsor’s funds.

Donohoe said a “sizeable team” has been built with around 50 people working on private wealth.

EQT predicts ​​individual investor allocations to private markets are expected to grow 12% annually over the next decade.

Partners Group established a private wealth arm last November with $37 billion assets under management, placing its existing activities into one unit.

Nexus advisory team will be led by William Vettorato, who recently joined EQT from Partners Group.

EQT has 119 billion euros ($131.00 billion) in fee-generating assets under management with 216 billion euros ($237.77 billion) in total assets under management within two business segments – private capital and real assets.

($1=0.9084 euros)

Reuters