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