Segulah's Ehrnrooth and Lif to take over as managing partners

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Gabriel Urwitz, founder and managing partner of Swedish GP Segulah, will step aside in July, with Sebastian Ehrnrooth and Henrik Lif jointly assuming the position.

The promotion of Ehrnrooth and Lif will see 65-year-old Urwitz become executive chairman of the private equity firm he founded in 1994.

Segulah is currently raising commitments for its fifth SEK 5.6bn fund. According to SEC documents filed in August 2014, the GP does not expect fundraising for its Segulah V vehicle to continue for more than a year.

Segulah declined to comment on whether it expects to have completed its fundraising effort before Ehrnrooth and Lif take over in July.

Urwitz' successors are the latest to be part of a generational shift among Nordic private equity firms, with founding partners handing over the reins to a new generation.

Ehrnrooth, 51, has been with Segulah since 2000. Prior to joining the GP he was the CEO of CityMail, following stints at Bain & Company and Motorola Sweden.

Formerly CEO of CPS Color Group in Helsinki, 42 year-old Henrik Lif joined Segulah in 2014. He was previously a director at Nordic Capital in Stockholm, and a management consultant at Arthur D Little.