EQT Group has agreed to acquire 100% of Stockbridge for up to $550 million, according to a source report dated October 15, 2026.
Stockbridge is a US-based real estate investment manager with $16.5 billion in fee-generating assets under management.
The consideration comprises a base cash payment of $375 million payable at closing, plus $175 million in earnout subject to performance targets being reached. EQT will also be entitled to invest in 35% of the carried interest in all future Stockbridge funds.
Stockbridge will transition to the EQT Real Estate brand at closing.
The source states that Stockbridge's expected 2027 fee-related EBITDA is $35-45 million, representing a margin of approximately 30-35%, and is expected to grow 15-20% annually in the coming years.
Advisors listed in the source are Berkshire Global Advisors and Kirkland & Ellis for Stockbridge, and Ropes & Gray LLP for EQT.