CapMan Stock Exchange release – 7 March 2013 at 9.05 a.m. EET
CapMan establishes a Nordic private equity real estate fund
Disclaimer
This press release is not an offer of any securities for sale in the United States, Canada, Japan, Australia or in any other jurisdiction where it would violate the laws of that jurisdiction or require measures other than those required under the Finnish laws. Securities may not be offered or sold in the United States absent registration under the US Securities Act of 1933 (Securities Act) or an exemption from registration. CapMan has not registered and does not intend to register any securities under the Securities Act and does not intend to make a public offering of any securities in the United States, Canada, Japan, Australia or in any other jurisdiction where offering without registration would violate the laws of that jurisdiction or require measures other than those required under the Finnish laws.
I hereby confirm to CapMan Plc that either (a) I am not in the United States and I am not a US person (the terms “United States” and “US person” having the meanings set forth in Regulation S promulgated under the United States Securities Act of 1933) or (b) I am an existing shareholder of CapMan Plc.
CapMan Plc has established its fourth private equity real estate fund in the Nordic countries. The investment capacity of CapMan Nordic Real Estate (CMNRE) is approximately 125 million after the first closing that was held on 6 March 2013. CMNRE invests mainly in properties with value-add potential that can be realised through active management. The focus of the fund is in office and retail properties located in the Nordic countries. The positive impact of the increase in management fees as a result of the establishment of the fund is in line with previously provided guidance.
Together with CapMan and the team, five institutional investors from Finland and the United States have committed a total of 50.1 million to CMNRE at the first closing of the fund. CapMan’s and the investment team’s own investment in the fund is 8.1 million. Investments made by CMNRE are financed with an average of 50-60% debt financing, providing a current investment capacity of approximately 125 million. Fundraising for the fund continues and CapMan expects to achieve the final closing for the fund in 2014 at the latest.
The investment focus of CMNRE is office and retail properties with opportunities in growth centres in the Nordic countries. The objective of the CMNRE fund is to actively manage and add value to properties over a period of 3-5 years and then sell. CapMan Real Estate’s Nordic team consists of 20 investment and asset management professionals in Helsinki and Stockholm. The fund’s first investment is an office building in Sollentuna in the Greater Stockholm area with Pfizer and BMW as the main tenants.
“The Nordic region is viewed as an attractive location for real estate investments due to its favourable macroeconomic environment in comparison to Continental and Southern Europe. There is international demand for Nordic private equity real estate investments and we are pleased to be able to offer investors this opportunity. Our strong local team, which we are looking to further strengthen especially in Sweden, is well-positioned to execute CMNRE’s investment strategy,” says Mika Matikainen, Senior Partner and Head of CapMan Real Estate.
CMNRE generates management fees and carry according to private equity real estate fund standards.
For more information, please contact:
Mika Matikainen, Senior Partner, Head of CapMan Real Estate, tel. +358 207 207 616
Jerome Bouix, Head of Sales, Marketing, Investor Relations and Communications, Senior Partner, tel. +358 207 207 558
CAPMAN PLC
Linda Tierala
Manager, Communications and IR
DISTRIBUTION
NASDAQ OMX Helsinki
Central media
www.capman.com
CapMan www.capman.com
CapMan is one of the leading private equity firms in the Nordic countries and Russia, with assets under management of 3.1 billion. CapMan has five key investment partnerships – CapMan Buyout, CapMan Russia, CapMan Credit CapMan Public Market, and CapMan Real Estate – each of which has its own dedicated investment team and funds. Altogether, CapMan employs approx. 110 people in Helsinki, Stockholm, Oslo, Moscow and Luxembourg. CapMan was established in 1989 and has been listed on the Helsinki Stock Exchange since 2001.
