CapMan Real Estate press release 10 March 2021 at 8.00 a.m. EET
CapMan closes its third Nordic value-add Real Estate fund reaching its hard cap of €564m
CapMan Real Estate has completed the final close of the CapMan Nordic Real Estate III fund (“CMNRE III”, “Fund”) at €564m of equity commitments, exceeding its target size of €500m and reaching its hard cap. The Fund is the largest in CapMan’s operating history. With leverage, the gross investment capacity of the Fund exceeds €1.4 billion.
The Fund was established in September 2020 and the efficient fundraising included Nordic; European; North American and Asian institutions, with more than 80% of commitments coming from outside the Nordics. The majority of capital came from investors that have invested in previous CapMan Real Estate funds, but there are also a significant number of new international investors participating in the Fund.
In line with its predecessor funds, CMNRE III invests mainly in transitional offices and mixed-use assets as well as select residential strategies. The Fund focuses on the most liquid markets including the capital city regions and other major growth centres in Sweden, Finland, Denmark and Norway. The Fund may also invest selectively in other property sectors supported by prevailing megatrends.
“We’re delighted to announce this record-breaking final close, despite the global pandemic. We would like to thank our investors for their confidence in the CapMan Real Estate team and the value-add product that we have developed over three vintages since 2013. The Fund has already committed approximately a quarter of its capital to transactions in Sweden, Denmark, Finland and Norway,” says Nigel Pedroz, Partner at CapMan Real Estate.
In addition to the Nordic value-add fund, CapMan Real Estate has several income funds.
CapMan’s Real Estate team comprises over 40 real estate professionals in Helsinki, Stockholm, Copenhagen and Oslo. CapMan Real Estate currently manages a total of €3 billion in real estate assets.
For additional information, please contact:
Nigel Pedroz, Partner, CapMan Real Estate, tel. +44 7796 853569
Mika Matikainen, Managing Partner, CapMan Real Estate, tel. +358 40 519 0707
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. 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, wealth management, and analysis, reporting and back-office 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. Read more at www.capman.com.
