CapMan Press Release – 29 September 2014 at 9.00 a.m. EEST
CapMan Russia II fund closed at EUR 99.1 million
The size of the CapMan Russia II fund has reached EUR 99.1 million at its final closing. The fund invests in fast growing consumer-driven small and mid-sized companies (SME’s) in Russia.
“Considering the current market environment, we are satisfied with the final fund size, which is close to the size of our previous fund investing in Russia. The Ukrainian crisis has obviously had a negative impact on fundraising and many investors have declined or stopped new investments in Russia. We are pleased that we got strong support from the majority of our previous fund’s investors and that new institutional investors from Europe have joined the fund as well. We have a good basis to continue our strategy in the market,” comments Jerome Bouix, Senior Partner and Head of Business Development and Investor Relations at CapMan.
Russia is a market with remarkable purchasing power, including 140 million inhabitants with close to 60% classified as middle class. The CapMan Russia II fund’s investment strategy is to invest in fast-growing non-strategic sectors serving Russia’s large middle class, such as consumer goods and services, e-commerce, home improvement, business services and private healthcare. The CapMan Russia II fund has already made two investments.
“Our portfolio in Russia has performed well. The post-Ukraine sanctions and rouble devaluation have had little impact on our investment strategy, with several companies actually benefiting from the lower rouble and the resulting increase in import substitution. We are one of the few firms who has long experience and a local presence in the market. Moreover, there are very few competing private equity firms at the moment and a lot of potential for investments,” says Hans Christian Dall Nygård, Head of CapMan Russia.
For more information, please contact:
Hans Christian Dall Nygård, Head of CapMan Russia, Senior Partner, tel. +7 985 111 9801
Jerome Bouix, Head of Business Development and Investor Relations, Senior Partner, tel. +358 207 207 558
CapMan Russia www.capman.com
CapMan Russia is a leading Russian private equity manager focused on small to mid-cap Russian growth companies. The team has made 41 investments and 29 exits since 1996. The latest fund was closed at 99.1 million in 2014. The team includes 11 people in Moscow. CapMan Russia is part of CapMan Group, a leading private equity firm in the Nordic countries and Russia, with assets under management of 3.1 billion. CapMan has five key investment partnerships – CapMan Buyout, CapMan Real Estate, CapMan Russia, CapMan Credit and CapMan Public Market and – each of which has its own dedicated investment team and funds. Altogether, CapMan employs approx. 100 people in Helsinki, Stockholm, Moscow, Luxembourg and London. CapMan was established in 1989 and has been listed on the Helsinki Stock Exchange since 2001.
