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    Home /  Careers / Meet Our People / Alumni Profile – Agnieszka Rafalska, Head of Legal M&A, North America, EQT Group
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    Alumni Profile – Agnieszka Rafalska, Head of Legal M&A, North America, EQT Group

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    Agnieszka Rafalska began her in-house legal career at Apollo Global Management, where she spent nearly seven years as Transaction Counsel and Senior Counsel. She received "The M&A Advisor’s 12th Annual Emerging Leaders award" in 2021 and was named a "Rising Star" at the Power of Women to Make a Difference Awards in 2025. Now Head of Legal M&A, North America at EQT Group, Agnieszka brings transactional expertise and a global perspective to one of the world’s leading investment organizations. We had the opportunity to sit down with Agnieszka to ask her a few questions about her career beyond S&C.

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    Through its generalist training, S&C put me in a position to not only land the job, but later thrive in the role, first at Apollo and now at EQT.

    You joined EQT Group back in November 2024, as Head of Legal M&A – North America. Can you describe your main responsibilities and how this position is different from your prior role at Apollo Global Management?

    At EQT, I oversee all deal and investment activities in North America, focusing primarily on private equity and infrastructure strategies. My work spans the entire deal lifecycle from early stage engagement through signing and closing, all the way to eventual exit.

    While my job descriptions at EQT and Apollo might look very similar on the surface, there’s one key difference: at Apollo, there was already an established legal team, whereas at EQT, in the U.S., I am the first M&A legal hire, charged with building out the deal coverage in North America. I valued the experience of working within a well-built team, but I also enjoy the challenge and excitement of building something from the ground up.

    What does being named a “Rising Star” at this year’s Power of Women to Make a Difference Awards mean to you personally and professionally? How has your work in M&A at EQT Group allowed you to make a broader impact beyond just business?

    Being named a “Rising Star” is both an honor and a reminder of the responsibility I have to support others. Personally, it means a great deal because I have been able to learn from incredible female mentors, and strong role models in my family, who have guided me throughout my journey. Professionally, it motivates me to pay that support forward — by mentoring junior women lawyers, building inclusive networks, and helping shape the next generation of leaders.

    At EQT, my work in M&A goes beyond executing transactions. It’s about creating sustainable, long-term value. That impact is what makes this recognition especially meaningful.

    You received “The M&A Advisor’s 12th Annual Emerging Leaders award" while at Apollo. What excites you the most about the M&A space?

    I enjoy the pace, the excitement and thrill of dealmaking. In private equity, where M&A is central to the business, it’s also important to see each transaction as the beginning of something new and good for the organization. To me, M&A deals always feel optimistic, as you are helping to open a new and exciting chapter in a company’s story. When you view these deals as opportunities for growth and positive change, the work becomes energizing. If that perspective doesn’t excite you, it’s hard to truly enjoy being an M&A lawyer.

    What are the biggest challenges you face as an in-house lawyer? What are the things you wished you had known before moving in-house?

    At a law firm, we are used to going deep when we work on an issue, becoming masters and experts in a specific area. In-house, the focus shifts. You need to be comfortable managing a broad scope of work and thinking strategically. When I first moved in-house, at the beginning I pored over every document that crossed my desk, but quickly realized I simply could not do that. In-house positions require a different skillset: the work involves more issue spotting and less drafting. While the training at a law firm like S&C is excellent and invaluable, at a law firm your work ends when you clearly lay out the risks for your client. In contrast, as in-house counsel, you need to be more comfortable with taking, and owning, calculated risks.

    I feel fortunate that my move in-house turned out to be such a great experience. I didn’t have a sense of what I was getting into but am lucky that I landed in the right place. It could have easily gone the other way – many job descriptions sound similar on paper, yet the reality can vary radically depending on the company’s culture, leadership, vision and caliber of the legal team. Your immediate manager and team are the most important factors in your day-to-day experience, but how the legal team is integrated with the rest of the business can also make one job very different from the next.

    How did you make the jump from S&C to your first in-house role, and how did S&C help with that transition?

    I was a senior associate when I was approached about a role at Apollo. Before joining, I sought advice from S&C partners who had worked with Apollo and were incredibly helpful and supportive. Through its generalist training, S&C put me in a position to not only land the job, but later thrive in the role, first at Apollo and now at EQT. The generalist background and my ability to do a little bit of everything on the corporate side translates seamlessly into the in-house environment.

    What advice would you give to more junior lawyers who may be interested in following a similar career path as you?

    Don’t overthink it – be enthusiastic. At S&C, you are exposed to a wide range of work, so embrace it. Even if a particular assignment isn’t your perfect fit, S&C gives you the breadth of training that sets you up for long-term success.

    Go with the flow and don’t worry about planning too far ahead. The world is changing quickly, it’s hard to speculate what skills will be in demand, what new areas will be in vogue and what whitespaces will open up in the future. Be open to a broad range of new opportunities. I took inspiration from the deals I was working on at S&C – while working on a deal for a fund, I realized that’s the kind of environment I would enjoy. Observing these deals gives you valuable insight into whether a certain role or industry might be right for you. You are able to see a lot of talented people operating at the top of their game, there is a lot to learn from them and there are plenty of potential future opportunities.

    When considering a company to join, ask questions that reveal more than just the job description: How is legal perceived in the organization? What is the culture like? How do they feel about their colleagues? All these questions will help you determine whether it’s the right fit.

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