Hard Lessons: Jean Eric Salata: Find the Comeback in the Setback

Summary

Jean Eric Salata, Chair of EQT Group, shares his career journey from a small Asia fund to leading a global private markets firm, emphasizing how setbacks created opportunities. He discusses a highly successful investment in Nord Anglia Education, a challenging early India strategy that pivoted to IT services buyouts, and the importance of culture, control investments, and an infinite mindset. He highlights Japanese buyouts as the biggest current opportunity in Asia.

• Salata's outsider perspective and international upbringing shaped his investment approach.
• The Nord Anglia Education deal exemplified the value of consolidation and recurring revenue models in for-profit education.
• An early failed foray into India taught the firm to pursue control investments and sector focus, ultimately succeeding in IT services.
• Culture, local decision-making, and team tenure are critical drivers of investment performance.
• Salata maintains an underdog, infinite mindset to avoid complacency as the firm grows.
• Japanese buyouts are seen as the top Asia opportunity due to corporate governance reforms and take-private potential.