Its signature move is splitting up or spinning off parts of companies, a tactic for which Mr Gardell earned the moniker of “butcher” from the Swedish press in the mid-2000s.
Cevian believes that many conglomerate structures are too sprawling, and that simplifying them can be better both for managers (who will have an easier time running more focused companies) and for shareholders (who will have an easier time valuing them) .
Perhaps the best example is the separation in 2012 of Cookson Group, a British industrial firm, into Alent, a chemicals company, and Vesuvius, a ceramics firm, that Cevian helped to engineer.
The split more than doubled the combined value of shareholders' investment.
Cevian has also pushed for spin-offs at Volvo Group, a Swedish truckmaker, and Bilfinger, a German industrial-services firm, among many others.
Such proposals often attract stiff opposition at first, as with its current recommendations for ABB, a Swiss-Swedish engineering firm, and ThyssenKrupp, a German steel giant.
And Cevian has had failures.
Bilfinger is one of the few examples of a truly struggling Cevian portfolio firm.
But overall, performance is strong.
Cevian returned 19.4% in 2016 alone. European activist funds returned 14.1% in aggregate, and American ones 12.8%, according to eVestment, a data provider.
Institutional investors, who often shunned or ignored activists a decade ago, now take the initiative to contact Cevian.
Other activists are also stirring: more European firms are being targeted.
Mr Gardell is sceptical that boisterous American funds will be able to make much headway into Europe, but he welcomes more competition.
His fund announced its newest target—one that is close to home—on May 31st: Ericsson, a floundering Swedish telecoms firm.
5月31日，他的基金宣布了其最新的目标 — 一家触及痛处的公司—挣扎中的瑞典电信公司爱立信。
1.split up 瓜分；破裂
例句:Did the two of you split up in the woods?
2.chemicals company 化工企业
例句:Blackstone did this, for example, with Frankfurt-listed Celanese, a chemicals company, 10 years ago.
3.close to 靠近
例句:I was close to tears with frustration, but I held back.
4.according to 通过
例句:They both played the game according to the rules.