CapMan Infra press release
2 October 2023 at 16:30 EEST
CapMan Infra improves GRESB results, keeps four-star rating
CapMan Infra’s first fund improved its GRESB results, placing it once again in the top quartile among European benchmarks in GRESB’s annual ESG assessment. Infra’s second and newest fund participated exclusively in the management reporting assessment where it received top scores.
GRESB assesses and compares the ESG performance of real assets globally and has become the go-to benchmark for asset managers and investors when it comes to ESG performance of different funds and portfolio companies.
CapMan Nordic Infrastructure I participated in the GRESB assessment for the third year in a row. This year’s review awarded the fund with 92 points out of a possible 100, an improvement of 2 points from last year, allowing the fund to keep its four-star rating and 6th place among European benchmarks.
All assets in the fund increased their score compared to last year. Norled, a leading marine transportation company, which the fund exited in October 2022, received 98 points out of a possible 100. During CapMan’s ownership the company launched a new sustainability strategy and invested more than NOK 2.5bn in low emission vessels, thereby decreasing CO2 emissions by ~30%. As a result, Norled’s GRESB score increased from 35 to 98 during CapMan’s holding period. Koiviston Auto, Finland’s leading bus operator, and the funds most recent investment, participated in the assessment for the first time and received 82 points out of a possible 100, placing the company second in its peer group. The company is progressing well with its green transition and already has over 100 electric buses in the fleet, with a further 127 expected before the end of 2024, placing it well-ahead of its initial 2026 target of 225 electrical buses.
CapMan Nordic Infrastructure II participated in GRESB for the first time this year. The fund closed its first investment in Dec 2022 and therefore participated exclusively in the management reporting assessment for which it received top scores, with 30 points out of 30. The fund, which is an Article 8 fund, has a clear sustainability strategy with a particular emphasis on supporting the green transition to support value creation and future-proof its investments.
“This year’s GRESB results are a testament to our sustainability approach and the tight collaboration between our team and the leadership in our portfolio companies. Sustainability remains a key focus area for CapMan Infra and an integrated part of our value creation strategy, something we have found, as in the example of Norled, to also be appreciated by the wider market. It is our strong belief that more sustainable and greener operations improve the value proposition for all stakeholders, which is why we have established a structured approach to support such transitions across our portfolio,” says Daniel Joelsson, Investment Manager at CapMan Infra and responsible for co-ordinating the team’s sustainability work.
“During the past few years, we have made significant investments into establishing and truly integrating sustainability across CapMan. We’ve done this by building out a team of sustainability experts that work closely with our investment teams, portfolio companies and properties. We have renewed our sustainability strategy, had our Science Based Targets validated, created group wide sustainability policies and restriction lists, as well as developed practical tools to systematically support our investment teams in applying their respective sustainability strategies. I am very happy to see this focused work resulting in such concrete results”, shares Anna Olsson, Head of Sustainability at CapMan.
The GRESB assessment reflects performance during 2022.
For more information, please contact:
Daniel Joelsson, Investment Manager, CapMan Infra, tel. +46 72 150 29 41
Anna Olsson, Head of Sustainability at CapMan, +46 73 387 75 61
About CapMan
CapMan is a leading Nordic private asset expert with an active approach to value creation. As one of the private equity pioneers in the Nordics we have built value in unlisted businesses, real estate, and infrastructure for over three decades. With €5.1 billion in assets under management, our objective is to provide attractive returns and innovative solutions to investors. We have set greenhouse gas reduction targets under the Science Based Targets initiative in line with the 1.5°C scenario. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover minority and majority investments in portfolio companies and real estate, and infrastructure assets. We also provide wealth management solutions. Our service business consists of procurement services. Altogether, CapMan employs approximately 180 professionals in Helsinki, Stockholm, Copenhagen, Oslo, London and Luxembourg. We are listed on Nasdaq Helsinki since 2001. Learn more at www.capman.com.
About GRESB
GRESB is a mission-driven and industry-led organization providing standardized and validated Environmental, Social and Governance (ESG) data to financial markets. Established in 2009, GRESB has become the leading ESG benchmark for real estate and infrastructure investments across the world, used by 170 institutional and financial investors to inform decision-making. GRESB standards are governed by the independent, not-for-profit GRESB Foundation, while ESG assessments are managed by GRESB BV, a benefit corporation. For more information, visit GRESB.com.
