Swedish private equity firm Segulah has confirmed that after ten years as managing partner, Christian Sievert is to be replaced by Gabriel Urwitz (pictured).
Sievert will now focus on deal generation, deal making and working with existing portfolio companies, while Lennart Ribohn, former senior executive vice president and CFO of Electrolux and board member of Segulah Advisor for over ten years, will replace Urwitz as chairman.
The firm said, “Over the last ten years that Christian Sievert has been managing partner, Segulah has developed from a small informal private equity firm into a full-fledged, mature mid market private equity partnership.”
In 1997, the firm launched its first fund of SEK200m with external investors and by 2007 it had launched its fourth, with SEK5.2bn. The 40 external investors are 95 per cent comprised of non-Swedish institutions from all over the world.
Sievert said, “I have enjoyed developing Segulah’s team and funds to what they are today. After 16 years at Segulah, including ten as managing partner, I look forward to being able to focus fully on deal making and portfolio company development in this exciting but demanding economic environment”.
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