IK appoints new director in Sweden

Nordic private equity firm Industri Kapital has recruited Samir Kamal to source and manage new investments in the Swedish marketplace.

Industri Kapital has announced the appointment of a new director. Samir Kamal will join the Stockholm office in August 2004 to source and manage new investments in the Swedish market.

39-year-old Kamal joins from Carnegie, an independent Nordic investment bank, where he held a senior role in the investment banking division, responsible for business origination and project management.

Kamal, who spent nine years at Carnegie, will join IK’s13-strong Stockholm office, which is headed up by company chairman and chief executive, Björn Savén.

IK’s current Swedish portfolio is managed by directors Christian Salamon and Gerard De Geer, who focus on developing the firm’s sector and business strategy approach.

IK has recently completed two Swedish realisations with the March IPO of Oriflame Cosmetics and the disposal of its shareholding in Nobia AB, the kitchen manufacturer, in February.

The firm is currently raising its fifth buyout fund, IK2003, which held its first close on €500 million ($600 million) in October 2003. The fund currently has a revised final target of €1.6 billion.