CapMan Press Release 4 February 2011 at 9.40 a.m. EET 


CapMan has signed a letter of intent for divesting its real estate consulting business

CapMan has signed a letter of intent to divest its real estate consulting business. When completed, the transaction will not have a substantial impact on CapMan’s result for 2011 and is expected to be closed during the third quarter of 2011, at the latest.

CapMan manages four private equity real estate funds and carries out real estate consulting through its Realprojekti Oy subsidiary. Under the letter of intent, Realprojekti’s construction management, shopping centre management, and commercial consulting activities will be transferred into a new company that will be owned by Markku Hietala, Matti Karlsson and Vesa Olkkola. Of the purchasers Markku Hietala and Matti Karlsson are currently employed by Realprojekti. The intention is to transfer a total of 21 people employed in the consulting business to the new company under their existing terms and conditions of employment. The intention is that the new consulting company will continue to use the name Realprojekti.

Following the divestment, CapMan Real Estate, lead by Partner Mika Matikainen, will concentrate on managing CapMan’s private equity real estate funds. A total of 25 investment professionals will continue to be employed by CapMan Real Estate. CapMan and the new company will continue to work together on developing CapMan’s real estate investment targets as before. The present Head of the CapMan Real Estate team, Markku Hietala, will be working as Managing Director of the new company and as Advisor to CapMan Real Estate after the transaction is closed.

“The divestment will clarify CapMan’s real estate organisation and improve the efficiency of management and development of our real estate fund management business in the future,” says CapMan’s Partner Mika Matikainen. “The reorganisation is intended to harmonise the real estate operations with CapMan’s other investment areas. At the same time, we believe that it will be very important for the future development of our operations to continue and develop cooperation with the consulting business also following the divestment.”

“The transaction will give the consulting business the opportunity to develop as an independent company. Our aim is to strengthen the company’s core competences and develop its service offering to meet the growing needs of current and future customers even more effectively,” says CapMan’s Senior Partner Markku Hietala. “CapMan will remain an important partner and customer for the new company.”

Further information:
Mika Matikainen, Deputy Head of CapMan Real Estate, Partner, tel. +358 207 207 616 or +358 40 519 0707
Markku Hietala, Head of CapMan Real Estate, Senior Partner, tel. +358 207 207 631 or +358 500 405 879

CapMan www.capman.com
CapMan is a private equity fund manager operating in the Nordic countries and Russia with approximately EUR 3.5 billion in capital under management. CapMan has four key investment areas i.e. Buyout, Russia, Public Market and Real Estate, and each of them has dedicated, entrepreneurial teams and funds. Altogether CapMan employs approximately 150 people in Helsinki, Stockholm, Oslo, Moscow, Copenhagen and Luxembourg. CapMan was established in 1989 and its B shares are listed on the Helsinki Stock Exchange since 2001.