Swedish Activist Investor Cevian Labeled 'the Butcher'

August 22nd, 2008
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Cevian Capital is a Swedish activist hedge fund founded by Christer Gardell and Lars Forberg. Their usual strategy is to either win seats on the board of directors or director's nomination committee of a company. Cevian has already carried out this strategy at Volvo, TeliaSonera, and Skandia. The activist hedge fund arranged the sale of Skandia, a Swedish insurance company, to Old Mutual, and is pushing for sale of divisions at Volvo, and has ousted directors from Telia Sonera.

Cevian's strategies haven't made it popular among Swedish newspapers or politicians, and its co-founder Christer Gardell is called "the butcher" or "Sweden's Gordon Gekko". Cevian also has a strong relationship with activist investor Carl Icahn and the two have worked together to sell Skandia and break up Finnish company Metso Oyj. Cevian is looking to expand its investments outside of Sweden, starting with Munich Re of Germany.
Related Article Tags: Investment Management, Fund Manager and General Financial News; Hedge Fund Launches and Hedge Fund Closings

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