Cevian Capital

Founded in 2002 by Lars Förberg and Christer Gardell, Cevian Capital is headquartered in Stockholm and has investment offices in Stockholm, Zürich and London. It manages long-term capital for institutional and other investors.

Cevian typically takes substantial minority positions in European-listed companies with strong market positions, cash generation and long-term demand, but which it believes are overlooked or undervalued. It then works with boards and management teams on operations, strategy, organizational structure, financial management, governance and sustainability.

Its edge is a concentrated, research-heavy form of constructive activism rather than short-term trading or hostile campaigning. The firm’s small investment team conducts detailed fundamental and operational analysis, often engages directly with executives and directors, and may place its professionals on portfolio-company boards or nominating committees.