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Swedish HF Closes to New Investors

Jul 28, 2013
Jing Chen

Swedish activist investor Cevian Capital has soft-closed following a solid performance.

Financial News reported that Cevian’s only fund, which is up 1.8% in the first six months of this year and gained 25% in 2012, stopped accepting new capital from investors after July 1. The fund currently manages about $10 billion in assets and most of the money will be locked in for at least three years.

Geneva Partners chief executive Franck Berlamont told Financial News that “cheap debt and a change in the nature of activism [are] driving investor interest in the strategy,” which likely contributed to Cevian’s growing assets.

Founded in 2002 by Lars Forberg and Christer Gardell, Cevian specializes in acquiring significant ownership positions in European public companies.

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