EQT plans to invest $50bn in India by 2030, with billionaire Gautam Adani's data centre business set to receive a significant share, Bloomberg reported, citing the Swedish investment firm's chair.
Of the total commitment, around $30bn will be directed towards data centres, with a further $5bn allocated to renewable energy to power them, Jean Salata told reporters in Mumbai.
EQT will route its data centre investments through portfolio company EdgeConneX, which formed a 50-50 joint venture with Adani Enterprises in 2021 to establish AdaniConnex.
Beyond infrastructure, EQT plans to commit a further $15bn to $20bn to venture and buyout private equity investments in India by 2030, according to Salata.
“India is going to play a disproportionately large role in our strategy going forward just because the sheer size of the opportunity that we have been discussing today”, Salata was quoted as saying.
Salata said the data centre commitments would be paired with green energy investments, including battery energy storage.
India currently accounts for less than 5% of EQT's global infrastructure investments, he said, adding there was room for that share to grow.
Last quarter, EQT transferred part of its stake in EdgeConneX into an AI infrastructure fund via an evergreen vehicle, which will hold the assets in perpetuity while allowing investors to trade shares in the entity.
Adani Group said in February it planned to invest $100bn to develop green-powered, AI-ready data centres by 2035.
EQT joins a growing list of global investors expanding data centre exposure in India, including Blackstone, Brookfield Asset Management, Warburg Pincus and Bain Capital.
Amazon has committed $12.7bn to cloud infrastructure in India through 2030, while Alphabet is investing approximately $15bn in an AI infrastructure hub in Visakhapatnam, Andhra Pradesh.
EQT has invested $26bn in India since 1998 across 30 investments, including roughly $7bn since 2023. The firm manages €341bn ($391.7bn) in assets globally as of June 2026.
