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CapMan Russia Fund reaches EUR 118 million at second closing


CapMan Plc press release 6 November 2008 at 12.30 p.m.
The size of the CapMan Russia Fund has reached EUR 118 million at its second closing. The fund’s investment focus is predominantly on mid-sized companies based in Russia. The fund has already made two investments. Fundraising for the fund continues.
The capital in the fund increases to EUR 118 million with the second closing. The CapMan Russia Fund (formerly Norum Russia Fund III), was transferred to CapMan’s management on the closing of the Norum transaction in September 2008. CapMan’s own commitment to the fund is EUR 13.5 million.
The fund’s investment focus is predominantly on mid-sized companies based in Russia, which have an enterprise value of approximately EUR 5-50 million. The target companies typically operate in selected industries, such as consumer goods and services, manufacturing, telecoms, transportation, financial services and media. The companies have net sales of approximately EUR 5-100 million combined with strong growth potential, experienced and motivated management, and transparent business practices.
The fund has made its first investments in Region-Avia Airlines and in Russia Baltic Pork Invest ASA (RBPI). Region-Avia Airlines is a private Russian airline operating regional scheduled services for passengers in Russia. RBPI is a pig farm operator that is currently setting up large production facilities in Kaliningrad. The farm’s operations are being phased in during autumn 2008.
“We’re very pleased that the second closing of the fund succeeded so well in today’s market environment. The fund has already made two investments and we believe that we’ll find interesting opportunities also in future in the Russian market,” says Hans Christian Dall Nygård.
For more information, please contact:
Petri Saavalainen, Head of CapMan Russia, Senior Partner, tel. +358 207 207 514 or +358 500 415
Hans Christian Dall Nygård, Head of CapMan Russia Investment Operations, Partner, tel. +7 812 913 7834
CapMan is one of the leading alternative asset managers in the Nordic countries and Russia, and manages private equity funds with approximately EUR 3.2 billion in total capital. CapMan has six investment areas (CapMan Buyout, CapMan Technology, CapMan Life Science, CapMan Russia, CapMan Public Market and CapMan Real Estate), and each of them has a dedicated team and funds. Altogether CapMan employs 140 people in Helsinki, Stockholm, Copenhagen, Oslo and Moscow. CapMan was established in 1989 and its B shares are listed on the Helsinki Stock Exchange since 2001.