NEW YORK, May 28 - EQT has signed a partnership with Alphabet’s Google Cloud to accelerate AI adoption across more than 300 companies in the Swedish private equity firm’s portfolio, the two firms said on Thursday.
Under the agreement, portfolio companies spanning sectors including enterprise software and healthcare will be able to use Google Cloud AI resources such as the Gemini Enterprise Agent platform to develop and run applications, in addition to tapping into cybersecurity services. The companies will also receive early access to selected Google Cloud AI products in the future, according to the statement.
The arrangement pairs Google Cloud engineers with EQT’s in-house AI transformation team, which numbers about 85 people. EQT and its portfolio companies will also be able to work with Google Cloud’s partner ecosystem, a network the statement described as containing more than 330,000 specialists from consultancies including Accenture, Deloitte and KPMG.
Bert Janssens, co-head of private capital in Europe and North America at EQT, said the collaboration would help "management teams future-proof their businesses and be more competitive in an increasingly AI-driven economy".
Demand for engineers and consultants who can deploy, customise and integrate AI technologies has risen sharply as companies move to embed AI into operations, the companies noted. The deal is consistent with a broader pattern of cloud providers and private capital firms partnering to scale AI adoption and expand customer reach for AI developers.
Google Cloud reached similar AI deployment agreements in April with software-focused investors Vista Equity Partners and Thoma Bravo. Those deals also give software businesses within the investors’ portfolios an opportunity to list and sell products on Google Cloud’s online store for other enterprises.
Separately, other large private markets investors are pursuing related distribution arrangements. The companies said that Blackstone and TPG are working with OpenAI and Anthropic, respectively, to distribute those firms’ products to a wider set of organisations.
What the agreement includes
- Access to Gemini Enterprise Agent platform and cybersecurity services.
- Early access to selected future Google Cloud AI products.
- Direct collaboration between Google engineers and EQT’s 85-person AI transformation team.
- Access to Google Cloud’s partner network of more than 330,000 specialists from major consultancies.
The companies emphasized that partnerships of this type serve dual functions: they help portfolio businesses move faster on AI-enabled initiatives and they allow AI developers to broaden their customer base. The firms noted the increasing need for skilled practitioners who can implement and tailor AI solutions as corporate demand grows.