EQT Partners Analyst Interview Guide & Questions 2025
Conquer the marathon 20+ person interview process, master technical challenges & unlock your global private equity career
About EQT Partners
EQT stands as a global investment powerhouse operating across multiple strategies within private markets. With a unique blend of Nordic cultural heritage and global reach, EQT makes majority investments across healthcare, technology, tech-enabled services, and industrial technology sectors. The firm’s diverse platform includes private equity (EQT Equity and EQT Future), early-stage technology (EQT Ventures and EQT Growth), infrastructure investments, and real estate assets across Europe, North America, and Asia-Pacific. Founded on principles of creating lasting value, EQT transforms good companies into tomorrow’s most promising builders.
Compensation Overview
The Marathon Interview Process Decoded
| Interview Stage | Format & Duration | Key Focus Areas | Preparation Strategies |
|---|---|---|---|
| Initial Screening | Phone/Video with HR | CV walkthrough, PE motivation | Polish your story, know why EQT specifically |
| Technical Round | 2 separate interviews | Paper LBO, valuation, brain teasers | Master algebraic IRR formulas, practice mental math |
| Psychologist Assessment | Personality & IQ tests | Cognitive abilities, cultural fit | Rest well, be authentic, practice logic puzzles |
| Marathon Day | 20+ employee interviews | Deep portfolio knowledge, sector views | Study ALL portfolio companies thoroughly |
| Final Assessment | Senior team evaluation | Strategic thinking, team fit | Prepare thoughtful questions, show global perspective |
Nordic Culture Meets Global Ambition
EQT’s Unique Cultural DNA
“At EQT, we blend our Nordic cultural heritage with a global perspective. Our values keep us committed to driving positive, lasting change in the world. With offices across North America, Europe, and Asia-Pacific, you’ll have opportunities to collaborate with colleagues worldwide and have an international career. Our inclusive environment is characterized by teamwork, transparency, and respect. We prioritize creativity and innovation to tackle challenges and set new standards.”
🌍 What Makes EQT’s Culture Distinctive
- Nordic Values: Transparency, equality, and consensus-building at the core
- Global Mindset: International career paths across 25+ offices worldwide
- Innovation Focus: Creativity encouraged to set new industry standards
- Collaborative Environment: Flat hierarchy with open communication
- Sustainability Integration: ESG considerations embedded in investment process
- Long-term Perspective: Patient capital approach with value creation focus
Analyst Role & Compensation Package
| Compensation Component | London Office | Role Focus | Development Opportunities |
|---|---|---|---|
| Base Salary | £66,000 – £83,000 | End-to-end deal process | Global team collaboration |
| Performance Bonus | 25-35% of base | Multi-strategy exposure | Cross-sector experience |
| Total Compensation | £82,500 – £112,050 | Deal origination to exit | International secondments |
| Additional Benefits | Healthcare, pension, training budget | Portfolio monitoring | Analyst program training |
Winning Analyst Profiles at EQT
| Profile Type | Educational Background | Professional Experience | Standout Qualities |
|---|---|---|---|
| Elite Education Track | MIT Sloan (Masters), Oxford (BA Economics) | BCG Senior Associate | Top-tier academics, strategy consulting excellence |
| Nordic Excellence | Stockholm School of Economics (MSc/BSc), NUS exchange | Goldman Sachs IBD Analyst | Nordic education, bulge bracket experience |
| UK Finance Focus | University of Edinburgh (Economics with Finance) | J.P. Morgan Asset Management | Asset management expertise, relationship building |
| European Business | University of Deusto (Business Administration) | AZ Capital M&A boutique | PE transaction experience, multi-sector exposure |
Technical Interview Questions Mastery
🎯 Core Technical Questions
Q: Write out the algebraic formula to solve for a 25% IRR.
Show understanding of compound annual growth: Final Value = Initial Investment × (1 + IRR)^n. Solve for different holding periods. Demonstrate comfort with mathematical concepts underlying PE returns.
Q: Walk through a paper LBO for a €500M enterprise value company.
Structure sources & uses, project cash flows, calculate debt paydown, determine exit value and returns. Show mastery of LBO mechanics without Excel.
Q: How would you value a high-growth SaaS company vs. a mature industrial business?
Contrast revenue multiples for SaaS with EBITDA multiples for industrials. Discuss growth rates, margins, capital intensity, and appropriate methodologies.
Q: Explain the impact of multiple expansion vs. operational improvement on returns.
Quantify how each driver affects IRR. Discuss sustainability of returns and EQT’s focus on operational value creation over financial engineering.
🧩 Brain Teasers & Problem Solving
Q: How many golf balls fit in a Boeing 747?
Classic estimation question. Show structured thinking: calculate plane volume, account for seats/cargo, estimate golf ball volume, arrive at reasonable answer.
Q: A company’s revenue grew 20% but EBITDA fell 10%. What happened?
Explore margin compression scenarios: pricing pressure, cost inflation, mix shift, one-time costs, or investment in growth. Link to portfolio company examples.
Q: Design a roll-up strategy for European dental clinics.
Address fragmentation, synergies, integration challenges, technology platform, and multiple arbitrage. Show understanding of buy-and-build strategies.
📊 Portfolio & Market Questions
Q: Compare EQT’s infrastructure vs. private equity strategies.
Discuss return profiles, hold periods, risk factors, and value creation approaches. Show understanding of EQT’s multi-strategy platform.
Q: Which EQT portfolio company impresses you most and why?
Deep dive into a specific investment: thesis, execution, value creation initiatives, and results. Demonstrate thorough research and analytical thinking.
Q: How is AI disrupting traditional PE investing?
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Discuss deal sourcing, due diligence efficiency, portfolio monitoring, and value creation. Reference EQT’s tech-forward approach and innovation focus.
Day-to-Day Responsibilities Deep Dive
Deal Execution (60% of time):
- Deal Origination: Market mapping, competitor analyses, company profiling
- Deal Assessment: Industry deep-dives, peer benchmarking, TAM/SAM sizing
- Financial Analysis: Build complex models, scenario testing, return analysis
- Transaction Management: Coordinate advisors, manage timelines, prepare IC materials
- Documentation: Investment memos, management presentations, LP reports
Portfolio Management (30% of time):
- Performance Monitoring: KPI tracking, variance analysis, board pack preparation
- Value Creation: Support operational improvements, M&A activities, strategic initiatives
- Stakeholder Management: Interface with portfolio company management teams
- Reporting: Quarterly reviews, sector analysis, special situation assessments
- Digital Innovation: Leverage AI tools, automation, and data analytics
Development & Training (10% of time):
- Analyst Program: Structured training modules across all strategies
- Mentorship: Provide guidance to new analyst intakes
- Cross-Team Collaboration: Work with global teams across sectors
- Continuous Learning: Industry conferences, technical skills enhancement
Career Progression at EQT
Your Path to Private Equity Leadership
- Years 1-2 Analyst Foundation: Master core skills across deal execution and portfolio monitoring
- Years 2-3 Senior Analyst: Lead workstreams, develop sector expertise, mentor juniors
- Years 3-5 Associate: Drive deal execution, board observer roles, origination involvement
- Years 5-7 Senior Associate/VP: Lead transactions, investment committee presentations
- Years 8+ Director & Beyond: Origination focus, LP relationships, investment decisions
The firm’s multi-strategy platform offers unique opportunities to gain exposure across private equity, infrastructure, real estate, and growth investing. High performers can transition between strategies, take international assignments, and fast-track their careers through the firm’s meritocratic culture.
Interview Success Strategies
| Interview Component | Key Success Factors | Common Pitfalls | Preparation Tips |
|---|---|---|---|
| Technical Skills | Paper LBO mastery, IRR calculations | Over-relying on Excel | Practice mental math daily |
| Portfolio Knowledge | Deep understanding of all investments | Surface-level research | Create detailed portfolio database |
| Cultural Fit | Nordic values alignment | Overly aggressive style | Emphasize collaboration |
| Psychometric Tests | Balanced personality, high IQ | Gaming the tests | Be authentic, practice logic |
| Marathon Interviews | Consistency, energy, depth | Fatigue, contradictions | Build stamina, stay hydrated |
Final Preparation Checklist
Technical Mastery:
- Master paper LBO mechanics – practice until it’s second nature
- Understand IRR/multiple calculations algebraically
- Study valuation methodologies across different sectors
- Prepare for brain teasers and estimation questions
- Review accounting fundamentals and financial statement analysis
EQT-Specific Preparation:
- Analyze EVERY portfolio company across all strategies
- Understand the investment thesis and value creation plan for each
- Form opinions on sectors and future investment opportunities
- Research Nordic business culture and values
- Prepare thoughtful questions showing global perspective
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