EQT has unveiled the appointment of Daniel Bullock as head of private wealth, Australia, as it seeks to tap into Australia’s growing private wealth segment.
According to the €136 billion firm, the appointment marks a key component of EQT’s strategy of expanding its private wealth presence in Australia, which is recognised as a fast-growing and sophisticated investor market.
“Australia’s substantial and growing private wealth market, coupled with an increasing appetite for alternative investments makes it a core market for us,” said Sueann Yeong, head of Asia-Pacific private wealth, on Friday.
“With deep industry relationships and a track record of raising significant capital in the region, Dan is a valuable addition to our growing private wealth team at EQT. We look forward to his contributions as we continue to expand our local presence with EQT Nexus in this space."
In his new capacity, Bullock will be tasked with overseeing EQT’s private wealth initiatives in Australia, including EQT Nexus – the firm’s evergreen investment strategy for private investors launched in 2023. Namely, it provides Australian wholesale investors with access to the same portfolio and deal flow as the firm’s institutional investors.
Bullock joins EQT with over 15 years of financial services and wealth management experience, most recently serving as head of wholesale markets at GQG Partners. In this role, he helped develop and execute the “go-to-market” strategy for the Australian wholesale business.
“Under his leadership, Dan successfully raised over $5 billion in assets under management, building a strong network with key industry stakeholders, including private wealth managers, financial advisors, and family offices,” EQT said.
Before this, Bullock held senior roles at Colonial First State and Magellan Asset Management.
Commenting on his appointment on Friday, Bullock said: “I am thrilled to build upon EQT’s private wealth strategy in Australia and to collaborate with local distributors and partners to expand access to private market investments for a broader range of individual investors.”
“By leveraging EQT’s global platform, sector expertise and commitment to sustainability, we aim to deliver institutional-quality investment opportunities to private wealth clients seeking diversified, long-term growth.”
In a market note from December, EQT managing director Martin Donnelly said that the multi-year contraction that the ASX has observed signals a shift in companies choosing to stay private for longer or opting to delist, highlighting the growing appeal of private markets.
“It’s evident that the pivot towards private market assets continues to gain momentum,” Donnelly said.
“This trend reflects broader structural changes, as companies increasingly find private markets to be a more attractive pathway for growth and access to capital.”
According to him, the steep ascent in costs and intricacies entailed in transitioning to a publicly traded entity continues to deter companies considering an IPO.
This shift in corporate strategy also presents opportunities for investors wanting to chase new avenues of growth and value creation.
“Investors who limit their portfolios to public markets are missing out on a growing share of the opportunity set,” Donnelly added.
“Private markets provide exposure to sectors and companies driving innovation and economic growth, particularly in the absence of IPO activity.”
