CapMan Real Asset Debt press release
6 August 2025 at 12:00 p.m. EEST
CapMan has completed the acquisition of 51% of CAERUS Debt Investments AG, marking the official start of their strategic partnership. As part of the transaction, Michael Morgenroth, founder and CEO of CAERUS, joins CapMan’s Management Group as Managing Partner for the newly established CapMan Real Asset Debt investment area.
CAERUS is a leading real estate debt investment manager in Germany, with €2.6 billion raised since its founding in 2014 and €700 million in assets under management across seven active funds. The team of 12 professionals specializes in tailored real estate debt financing across the DACH and Benelux regions.
The partnership strengthens CapMan’s position in real asset investments and expands its presence in continental Europe. The new investment area, CapMan Real Asset Debt, complements CapMan’s existing focus areas in real estate, infrastructure, and natural capital, and supports its strategic growth objective of reaching €10 billion in assets under management.
CAERUS also benefits significantly from the partnership. The collaboration provides access to CapMan Real Estate’s strong Nordic presence, complementing CAERUS’s established coverage in the DACH and Benelux regions. CAERUS gains from CapMan’s robust asset management capabilities, sustainability expertise, and comprehensive platform services. In addition, CapMan’s balance sheet investments will support fundraising efforts for future funds, further strengthening CAERUS’s growth potential.
“This is a significant step for CapMan. Real asset debt is a natural addition to our offering, and I’m excited to join forces with Michael and his team. Their experience and entrepreneurial mindset align perfectly with CapMan’s values”, says Pia Kåll, CEO of CapMan.
“Everyone involved is delighted that the collaboration can now really get underway. This new set-up is also reflected in a slight adaptation of our logo, which will additionally be labelled ‘by CapMan’. The current environment poses major challenges for many market participants. This opens many opportunities for a broadly positioned asset manager to support existing and new clients and demonstrate its expertise and market know-how”, says Michael Morgenroth, CAERUS CEO and Managing Partner at CapMan Real Asset Debt.
For more information, please contact:
Charlotte Wessman, CapMan Head of Communication, +46 734 290832
Press contact for CAERUS:
Peter Dietze-Felberg, Communication Consultant, RUECKERCONSULT GmbH, +49 30 28 44 987 62
dietze@rueckerconsult.de
About CapMan
CapMan is a leading Nordic private asset expert with an active approach to value creation and €6.4 billion in assets under management. As one of the private equity pioneers in the Nordics we have developed hundreds of companies and assets creating significant value for over three decades. Our objective is to provide attractive returns and innovative solutions to investors by enabling change across our portfolio companies. An example of this is greenhouse gas reduction targets that we have set under the Science Based Targets initiative in line with the 1.5°C scenario and our commitment to net-zero GHG emissions by 2040. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover real estate and infrastructure assets, natural capital and minority and majority investments in portfolio companies. We also provide wealth management solutions. Altogether, CapMan employs around 200 professionals in Helsinki, Jyväskylä, Stockholm, Copenhagen, Oslo, London and Luxembourg. We are listed on Nasdaq Helsinki since 2001. Learn more at www.capman.com.
About CAERUS
CAERUS Debt Investments AG (CAERUS), founded in 2012 and based in Düsseldorf, is the leading independent provider of institutional real estate debt investments in continental Europe. CAERUS is one of the pioneers in the real estate debt market segment and finances real estate projects and transactions in continental Europe with a focus on the DACH region and the Benelux countries. As an investment advisor, CAERUS acts for Luxembourg-based multi-investor funds as well as for individual mandates and offers institutional investors attractive access to real estate debt investments, taking into account their specific regulatory requirements. To date, CAERUS has launched seven real estate debt funds, which have received around EUR 2.6 billion in capital commitments from institutional investors and financed a loan volume of around EUR 2.7 billion. The team’s extensive expertise and many years of experience in the areas of financing and real estate investment make CAERUS a reliable and trustworthy partner for institutional investors and borrowers alike. www.caerus.ag