eQ says the changes bring all of its operational activities into the same Management Team, accelerate decision-making and support its 2030 growth strategy. The Genesta deal is worth up to EUR 15.5 million, and Genesta manages about EUR 1 billion in assets, compared with EUR 13.9 billion at eQ.
Asset management heads now report directly to the CEO, nine months after eQ’s last team renewal
In February, eQ renewed its Management Team alongside its 2030 strategy and appointed dedicated heads for private equity, real estate, and equity and fixed income. Under the new structure, the heads of the asset management business areas, Staffan Jåfs for private equity, Jennifer Eloheimo for real estate in Finland and Veli-Pekka Heikkinen for equity and fixed income, join the Management Team and report directly to the CEO, as does Annamaija Peltonen, who heads fund administration. The team now has 12 members.
“I appreciate being offered the opportunity to continue with the company under the new structure, but I have decided to pursue new opportunities,” says Tero Estovirta in the press release.
Pölönen takes on the segment where profit is falling
Group net revenue rose 4% to EUR 44.5 million in January to September, while operating profit fell 3% to EUR 18.8 million. In Asset Management, the business Pölönen now runs directly, operating profit fell 10% to EUR 21.3 million and management fees the Asset Management segment fell 2% to EUR 39.0 million, while performance fees rose 15% to EUR 3.8 million. The 2030 strategy targets doubling operating profit, which stood at EUR 27.4 million in 2025.
Genesta is eQ’s first step toward an international private markets platform
The 2030 strategy said growth would come mainly from organic expansion, while leaving eQ open to mergers and acquisitions. eQ describes Genesta as the first step in building an international private markets platform. Genesta had 2025 net sales of EUR 9.6 million and operating profit of EUR 2.7 million. The price consists of a EUR 11.5 million base price and a conditional earn-out of up to EUR 4.0 million. The deal makes Stockholm a hub for international sales and adds a Luxembourg-registered fund manager.
Pertti Vanhanen, who joined in March from senior international roles at Cromwell Property Group and Aberdeen, will lead the integration. Pölönen now leads both the group and its asset management business, whose real estate operations Genesta is set to expand into a Nordic business.
