Segulah explores Fund IV restructuring – Exclusive

The Stockholm-headquartered mid-market firm has launched a process to restructure its 2007 fund.

Segulah, a Swedish mid-market private equity firm, is exploring a fund restructuring of its 2007-vintage buyout vehicle in a deal that may hinge on two key assets in the Nordic oil and gas industry, Secondaries Investor has learned.

The Stockholm-headquartered mid-market firm has launched a process to restructure its SKr 5.2 billion ($582 million; €548 million) Segulah IV fund, according to five sources familiar with the deal. It is understood the process launched in January and bids were due in the second week of February, with Lazard advising on the deal.

The process involves just under €350 million of net asset value in Segulah IV, which holds eight assets, according to two of the sources. Secondaries Investor understands the plan is to move the assets into a new vehicle with new terms.

The most attractive assets in the fund are Oglaend Industries and Beerenberg, both of which provide support services to businesses in the oil and gas sector. Segulah acquired Oglaend in 2014 and owns an 82 percent stake; it bought Beerenberg in 2013 and owns an 89 percent stake, according to its website.

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