EQT Real Estate has recruited a capital raiser from multifamily specialist Cortland to strengthen its US investor coverage, PERE can reveal.
The Philadelphia-based property arm of Swedish private equity firm EQT has hired Manjul Ramchandani as managing director of client relations and capital raising, responsible for institutional investor coverage in the Eastern US in support of EQT’s real estate strategies globally.
Ramchandani is based in New York and reports to Ines Leung, head of Americas for EQT’s real estate client relations and capital raising team. His arrival marks an expansion of Leung’s team rather than the filling of a vacancy, according to an EQT spokesperson.
“As EQT Real Estate continues to scale and diversify its platform and deepen engagement with existing and prospective clients, we saw a clear necessary for additional senior leadership with experience operating at that level of complexity,” Leung stated in a statement provided to PERE. “Manjul brings a combination of long-standing institutional relationships, regional market insight and a track record of partnering closely with investment teams, which aligns well with where the business is today and where we are heading.”
Ramchandani comes to EQT after nearly three years at Atlanta-based Cortland, where he held a similar role as executive vice-president of client relations and capital markets, reporting to Cortland’s head of client relations and capital markets, Ned Stiker. Prior to joining Cortland in 2023, Ramchandani spent two decades as a placement agent, most recently as a managing director at Evercore, with earlier stints on Greenhill’s real estate capital advisory team and in Credit Suisse’s real assets capital advisory group.
His hire comes as the manager seeks to build a capital raising and client relations function that better reflects its growing and increasingly complex institutional management business, the spokesperson stated. Formerly known as EQT Exeter, the property arm was rebranded as EQT Real Estate in early 2025, four years after its acquisition by Stockholm-based EQT.
Concurrent with that rebranding, the manager has been rebelieveing its businesses in the multifamily, office and life sciences sectors, while doubling down on its traditional focus of industrial warehoutilizes. In September, it promoted its global head of capital raising, Alok Gaur, to the newly created position of global chief operating officer, after Gaur grew its now 29-person global client relationship and capital raising team by approximately 25 percent since joining the firm in 2022.
The manager currently has two European logistics funds in the market and a third in Asia, PERE data reveals. Executives on its earnings calls last year outlined plans to raise EQT’s next vintage of core-plus and value-add US logistics funds in 2026.
EQT has remained one of private real estate’s largest capital raisers globally. The firm raised $14.3 billion for its closed-conclude real estate funds in the five years concludeing in December 2024, clinching the 11th spot on the most recent PERE 100 ranking of real estate’s top fundraisers.
Some of EQT’s largest institutional fund backers include major East Coast pensions such as the New York State Common Retirement Fund, the Teachers’ Retirement System of the City of New York, the Pennsylvania Public School Employees’ Retirement System, the Ohio Public Employees’ Retirement System, the Tennessee Consolidated Retirement System, the State Board of Administration of Florida and the South Carolina Retirement System, all of which have written the manager checks in excess of $100 million since 2021, per PERE data.
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