Stefan Linder, a Stockholm-based director of Industri Kapital, has resigned from the European private equity firm to join Nordic rival Altor Equity Partners, which was established last year by IK co-founder Harald Mix.
Gustav Ohman, a director at Industri Kapital’s London office, confirmed in an interview that Linder had informed the firm of his decision to leave earlier this week. Ohman said: “Linder was much appreciated here but these things happen. We have informed our investors of his decision and there has been no negative feedback.”
Most recently, Linder had been working alongside Christian Salamon, who heads up IK’s Swedish operations. Prior to that, he had responsibility for IK’s Finland coverage.
Ohman said there were no immediate plans to name a successor to Linder, but that this might change in the future. “Linder was in a transitional period between his role in Finland and his new position working with Christian Salamon in Sweden.”
Linder is understood to be finalising arrangements with Altor Equity Partners, which earlier this year closed its debut fund on E650m. A spokesperson for Altor confirmed that he was joining the firm, adding that he was not likely to take up a position until next year. Altor founder Harald Mix was unavailable for comment.
News of Linder’s departure comes as Industri Kapital prepares to hold a first close of its fifth buyout fund, the successor vehicle to the Industri Kapital 2000 Fund, which raised E2.1bn three years ago. The new fund, launched last year and which is hoping to raise E2.5bn, has had difficulties building up momentum amid fundraising conditions that have allowed only a small number of European buyout firms raising capital to progress quickly.