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CapMan Public Market Fund closes at EUR 138 million


CapMan Plc Stock Exchange 10 July 2009 at 11.00 a.m. (EET)


CapMan Public Market Fund closes at EUR 138 million
Fundraising for the CapMan Public Market Fund has been finalised. The fund was closed at EUR 138 million, of which CapMan Plc’s commitment is EUR 7 million. CapMan Public Market is CapMan’s first equity fund investing in listed companies. The final closing of the fund does not have a substantial impact on CapMan Plc’s result for 2009.
CapMan Public Market Fund invests in listed Nordic companies with market capitalisations in the range of EUR 50-400 million. In its operations the fund utilises CapMan’s private equity style value creation tools based on active ownership. To date the fund has announced one investment in Europe’s leading kitchen company Nobia AB, which is listed on the Nasdaq OMX Nordic Exchange in Stockholm.
“CapMan Public Market’s investment operations have had a good start, and we are currently analysing several attractive investment opportunities. Our team has excellent resources to support the development of Nordic listed companies in cooperation with other large shareholders,” says Senior Partner Jukka Ruuska, Head of CapMan Public Market.
New commitments to the fund total EUR 40 million
Commitments to the fund have been received from a total of nine Nordic institutions including CapMan. New capital totalling EUR 40 million was raised in the final fundraising round. Of these, EUR 8 million has been used to reduce CapMan’s commitment to invest in the fund from EUR 15 million to EUR 7 million. In accordance with the decision by CapMan Plc’s Board of Directors in May 2009, CapMan’s objective is to invest 1-5% of the original capital in its future funds depending on the fund’s demand and CapMan’s own investment capacity.
“We are very pleased that we succeeded to raise more capital to the new fund in these challenging market conditions. During the fundraising process we have met many new investment contacts responsible for public market investments and have received valuable feedback for our future operations,” says Senior Partner Jerome Bouix, Head of Investor Services.
The management fee level of the CapMan Public Market Fund corresponds to that received by CapMan from other funds investing in portfolio companies. CapMan Plc’s share of any potential carried interest that the fund may generate is 50% and the CapMan Public Market team’s share is 50%.
For further information, please contact:
Jukka Ruuska, Head of CapMan Public Market, Senior Partner, tel. +358 207 207 571 or +358 050 1732
Jerome Bouix, Head of Investor Services, Senior Partner, tel. +358 207 207 558 or +358 40 820 8541
CapMan is one of the leading alternative asset managers in the Nordic countries and Russia and manages private equity funds with approximately EUR 3.4 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 over 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.