CapMan Real Estate press release 4 September 2017 at 10.00 a.m. EEST
CapMan Real Estate closes its second pan-Nordic fund at hard cap with EUR 425 million of equity commitments
CapMan Real Estate holds the first and final closing of CapMan Nordic Real Estate II (CMNRE II), its second pan-Nordic value-add fund, at EUR 425 million of equity commitments from Nordic, European and US institutional investors. With leverage CMNRE II reaches an investment capacity of over EUR 1 billion to be invested primarily across the office, retail and residential sectors in the most liquid real estate markets in the Nordics following the successful strategy of its predecessor fund.
With continued support from the investors in the previous fund and a strong demand from new investors, CMNRE II quickly became oversubscribed. In line with the previous fund, the investors are equally distributed from the Nordics, the rest of Europe and the US, with each region representing roughly a third of the invested capital. The fund has a total of 30 investors.
CMNRE II follows the proven investment strategy of its predecessor fund by focusing on established office submarkets; necessity anchored retail; and residential opportunities in the capital cities as well as other growth centres in Sweden, Finland, Denmark and Norway. CMNRE II will also selectively invest in other real estate sectors supported by increasing urbanization, changing demographics and other prevailing macro themes.
“We are extremely pleased for the strong support from both our existing and new investors. Our disciplined and prudent investment approach towards selecting the best assets and managing them hands-on by our local teams has provided great results over time. We continue to see interesting opportunities throughout the Nordics in our focus areas and believe we can continue providing good returns to our investors by maintaining our disciplined approach,” says Mika Matikainen, Managing Partner of CapMan Real Estate.
“I am satisfied to see the positive development continue in our Real Estate business. The closing of this new fund is an important part of CapMan’s growth strategy and a strong expression of trust among our investors,” comments Joakim Frimodig, CEO of CapMan.
CMNRE II fund generates management fees and carry according to private equity real estate fund standards.
CapMan Real Estate was advised by Scala Fund Advisory, Wren Capital LLC and Ashurst LLP in the establishment of CMNRE II fund.
CapMan Real Estate has a team consisting of over 30 real estate professionals in Helsinki, Stockholm and Copenhagen. CapMan Real Estate currently has over EUR 1.7 billion of assets under management and the first fund was established in 2005.
Mika Matikainen, Managing Partner, CapMan Real Estate, +358 40 519 0707
Joakim Frimodig, CEO, CapMan Plc, tel. +358 50 529 0665
CapMan is a leading Nordic investment and specialised asset management company. As one of the Nordic private equity pioneers we have actively developed hundreds of companies and real estate and thereby created substantial value in these businesses and assets over the last 25 years. CapMan has today 110 private equity professionals and manages €2.3 billion in assets. We mainly manage the assets of our customers, the investors, but also make direct investments from our own balance sheet in areas without an active fund. Our objective is to provide attractive returns and innovative solutions to investors and value adding services to professional investment partnerships, growth-oriented companies and tenants. Our current investment strategies cover Buyout, Growth Equity, Real Estate, Russia, Credit, Infrastructure and Tactical Opportunities. We also have a growing service business that currently includes fundraising advisory, procurement activities and fund management.