Lionel Laurent, Columnist

A Hedge Fund Gets $2.4 Billion for Hanging In There

Christer Gardell's patience pays off at Volvo. Now he has more firepower for other activist campaigns.

December 27, 2017 at 1:05 PM UTC

Lionel Laurent is a Bloomberg Opinion columnist writing about the future of money and the future of Europe. Previously, he was a reporter for Reuters and Forbes.

1514380864_christer — Photographer: Michael Nagle/Bloomberg

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Cage-rattling activist investors are not known for their patience. But Cevian Capital AB has waited more than a decade for its bet on trucks-to-construction group Volvo AB to pay off. That restraint has been worth it, with Chinese automaker Zhejiang Geely Holding Group Co. paying a premium for Cevian's stake.

The Swedish investment firm now has firepower to target other, flabbier companies.