Regarding eQ, there is quite often speculation about potential corporate arrangements.
When eQ’s new CEO pondered in his/her appointment event that eQ’s products could be expanded to the general public, I believe it was a clearly deliberate message from the press conference. At that time, it first crossed my mind whether an eQ-Aktia corporate arrangement might be on the table.
Surprisingly little attention has been given in these speculations to the fact that Aktia’s largest owner, with a stake of slightly over 10%, is RG Partners (in which, to my knowledge, Rettig Group, Janne Larma, and eQ’s Chairman of the Board Georg Ehrnrooth are partners), meaning practically the same ownership entities that own approximately 50% of eQ Plc. So, if I understand the ownership structures correctly, those who own 50% of eQ are Aktia’s largest owner through their joint holding company. Thus, it would not be held up by the largest owners, at least.
At least from an outsider’s perspective, such an arrangement could resolve several issues simultaneously:
- Aktia’s offering would expand enormously and diversify significantly with private market products
- eQ’s products would gain a significant expansion to the “general public”, meaning the much-discussed wealth of the baby boomers could be directed into eQ’s products, such as real estate products, PE investments, or in the future, infrastructure
- at the same time, a significant asset manager would be formed, with the ability to grant leverage from its own balance sheet and offer private banking services
Just some private thoughts from here. I cannot analyze the rationality of such a thing in depth, but there was certainly a reason why RG Partners bought SLS shares about five years ago and became Aktia’s largest owner.