CapMan Infra press release
29 October 2020 at 8:45 a.m. EET
CapMan Infra assets under management increase to MEUR 400
CapMan Infra has broadened and internationalised its investor base through a syndicated transaction in one of its portfolio companies and additional commitments closed in CapMan Nordic Infrastructure I (the “Fund”). Total assets under management for CapMan Infra have increased to approx. MEUR 400 and the investor base has become distinctly global with nearly half of the capital coming outside of the Nordic countries from Europe, North America and Asia.
CapMan Infra successfully attracted approx. MEUR 50 of new co-investment capital from three international institutional investors for this syndication of its investment in Norled, an operator of ferries and express boats in Norway. The investment, the Fund’s first seed asset, closed in July 2019, when CapMan acquired a 50 per cent stake in Norled in a consortium with CBRE Caledon. CapMan Infra continues to manage the asset on behalf of the co-investors and the Fund.
“We are delighted to welcome international blue-chip institutional investors as co-investors in Norled, where we are driving the green shift of the Norwegian ferry sector. Sustainability is a key theme throughout our investment process from due diligence and investment selection to active value creation, and we seek to set objectives and measure our achievements. As an example, Norled plans to decrease its CO2 emissions by 75 per cent by 2029 through the introduction of reduced emission vessels,” says Ville Poukka, Managing Partner of CapMan Infra.
The Fund reached a final close at approx. MEUR 190, securing commitments from a diverse group of LPs including SWEN Capital Partners, Ilmarinen Mutual Pension Insurance Company, The Church Pension Fund and Tradeka Invest Ltd amongst others. The Fund invests in mid-sized core and core+ infrastructure assets in the energy, transportation and telecom sectors across the Nordics.
To date, some 70 per cent of the Fund capital raised has been committed to four investments. In addition to Norled, the Fund has invested in Nydalen Energi, a provider of environmentally friendly district heating and cooling in Oslo, Loviisan Lämpö, a provider of environmentally friendly district heating in Southern Finland, and Valokuitunen, a fibre-to-the-home platform in Finland. The CapMan Infra team also manages two investment mandates – an onshore windfarm in Sweden and an investment stake in an electricity distribution company in Finland – on behalf of institutional investors.
“Since the establishment of CapMan Infra three years ago we have built a strong local Nordic team, raised two investment mandates, closed our first Nordic mid-cap infrastructure fund and invested in six attractive transactions that have performed in line with original expectations despite the challenging current environment. We are pleased that our investment strategy generated significant interest both locally and internationally resulting in a supportive and global investor base, and that we have demonstrated flexibility in finding suitable investment solutions to serve the needs of different types of investors and investment horizons. We thank our investors for their trust,” continues Poukka.
“We are very pleased with what we have achieved so far in the Nordic mid-cap infrastructure space and believe we have built strong foundation for future growth,” says Joakim Frimodig, CEO of CapMan Plc.
CapMan Infra was established in 2017 and has a team of nine professionals based in Helsinki and Stockholm.
For additional information, please contact:
Ville Poukka, Managing Partner, CapMan Infra, p. +358 50 572 9120
About CapMan
CapMan is a leading Nordic private asset expert with an active approach to value creation. We offer a wide selection of investment products and services. As one of the Nordic private equity pioneers, we have developed hundreds of companies and real estate assets and created substantial value in these businesses and assets over the past 30 years. With over €3.5 billion in assets under management, our objective is to provide attractive returns and innovative solutions to investors. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover Private Equity, Real Estate and Infra. We also have a growing service business that includes procurement services, fundraising advisory, and analysis, reporting and wealth management services. Altogether, CapMan employs around 150 people in Helsinki, Stockholm, Copenhagen, London and Luxembourg. We are a public company listed on Nasdaq Helsinki since 2001 and a signatory of the UN Principles for Responsible Investment (PRI) since 2012. For additional information about CapMan Infra, visit www.capman.com/infra
