Segulah shakes up management team

The Swedish GP will replace managing partner Christian Sievert (pictured) with founder Gabriel Urwitz as part of a reshuffle that will also see Lennart Ribohn become chairman of the firm.

Stockholm-based Segulah has initiated a set of changes at the top level of its management team, a year before celebrating its 20th anniversary. 

Segulah founder Gabriel Urwitz will replace managing partner Christian Sievert, who joined in 2003 and is stepping back to focus on deal generation, deal making and managing portfolio companies.

Christian Sievert

The management reshuffle will also see Lennart Ribohn become chairman of the firm, a role assumed by Urwitz until now. A former executive vice president and chief financial officer of appliances maker Electrolux, Ribohn has been a board member at Segulah for more than 10 years. 

“After 16 years at Segulah, including 10 as managing partner, I look forward to being able to focus fully on deal making and portfolio company development,” Sievert said in a statement. 

During his tenure as managing partner, Sievert led strategy development, fundraising, investor relations, and human resources, as well as development of Segulah's partnership structure and corporate governance issues. 

The firm has had an active 2013 so far, selling pharmaceuticals group Medstop for SEK 1.5 billion (€176 million, $230 million) last month and buying oil and gas services group Beerenberg in January. 

Segulah is currently investing from its Fund IV, a 2008 vintage that is 70 percent deployed. The vehicle is expected to complete a couple more platform investments before being fully invested, according to a source close to the firm.

Founded in 1994, Segulah focuses on expansion capital investments in the Nordic region.  The firm has around SEK 7.55 billion under management.