EQT, the world’s second-largest private equity firm, is looking to pour more than a quarter of a trillion dollars into the U.S.

The Swedish firm is plotting more investments in the U.S. via its private capital, infrastructure and real estate business lines, CEO Per Franzen said during an interview with Bloomberg TV.

“Over the next five years we actually expect to invest more than $250B here in the U.S., which would be an increase compared to how much we’ve invested in this part of the world historically,” he said.

Franzen’s comments came ahead of the company’s Q3 2025 earnings call scheduled for Oct. 22.

The investment plans come despite the economic uncertainty in the U.S., due in part to President Donald Trump’s whiplash tariff policy and limited availability of federal data due to the ongoing government shutdown.

EQT also plans to invest more in Europe, where Franzen said he sees a “positive impact” from investors looking to minimize their focus on U.S. dollar-backed assets.

In January, EQT announced plans to step back from the U.S. multifamily and office markets amid a challenging fundraising environment. The company said it would focus on the nation’s industrial market instead.

That process entailed selling some of its holdings, including a 207K SF Houston office building that went for $42M.

The company in November purchased a 4.5M SF industrial portfolio across the Southeast, Midwest and Texas. It acquired a 1M SF purpose-built distribution center portfolio in Napa Valley that month as well.

EQT purchased Exeter Property Group in 2021. The subsidiary previously known as EQT Exeter was rebranded as EQT Real Estate in January.