The ETF provider has hired Alessio de Longis to head its new Active Investments platform and Hyuk Soo Han to help lead its private equity secondaries efforts.
Managing Director Jason Mehring will replace Tseng as Director, Board Chair, and CEO across three BlackRock BDCs.
The Swiss firm's flagship semi-liquid strategy tracks the Morningstar PitchBook Unicorn 20 Index primarily through secondaries.
The acquisition brings three interval funds, a BDC, and a $41 billion CLO and alternative credit business to the combined platform.
The Swiss manager plans to address its mature evergreen offerings over the next 12-18 months, while maintaining liquidity limitations in the coming quarters.
The transaction adds nine private equity and credit secondaries strategies to EQT's offering, while its combined evergreen platform now exceeds €10 billion in NAV.
