SJ Berwin beats White & Case to advise on Segulah III fundraising

SJ Berwin has displaced White & Case Advokat in the instruction of Swedish private equity fund manager Segulah on the fundraising for its third Nordic fund.

Head of corporate Jonathan Blake led SJ Berwin’s team on the first and final closing of the Segulah III LP fund, which closed at its maximum capacity of €250m (£174.5m) at the end of October. The fund was four times oversubscribed.

This was the first time SJ Berwin has acted for Segulah, after wresting the instruction away from White & Case’s Stockholm office, which advised the fund manager on its previous fund offering.
Corporate consultant advokaten for SJ Berwin Carl Nisser, who assisted with the fund offering, explained that the firm secured the instruction following an independent pitch to the company after it had heard of its plans to launch a third fund.

He said AB Segulah had required an international firm to conduct the offering, while the instruction also followed SJ Berwin’s strategy to focus on the Nordic private equity market, having previously acted for several local private equity managers on their fundraisings.

SJ Berwin, which does not have an office in Sweden, was assisted on the Swedish aspects by Segulah’s key relationship lawyer Lennart Kanter, a partner at Advokatfirman Cederquist in Stockholm.