People

Pia Kåll became CapMan’s CEO in March 2023. Pia Kåll joined CapMan Buyout in 2016 as a partner and was designated managing partner in 2017. Before joining CapMan, Kåll was on the Executive Board of Outotec, where she was responsible for Strategy, M&A, Marketing and Operational Excellence. Previously she worked eight years at McKinsey&Company where she was an Associate Principal.

Positions of trust

2022– Board Member, Elisa Oyj

Atte Rissanen is CapMan’s CFO and responsible for strategy and business development. He has been with the Group since 2017. Rissanen previously held corporate finance positions at Summa Capital and EY.

Heidi Sulin has been COO of CapMan and member of the Management Group since November 2021. Prior to joining CapMan she worked at Hartwall Capital, where she was since 2016, most recently as COO. She has previously worked as General Counsel at CapMan.

Jyri Hietala is the Managing Partner of CapMan Natural Capital and member of CapMan’s Management Group. Prior to that, he was the CEO of UB Nordic Forest Management Ltd. Hietala has over 15 years of experience within the forest sector. He has expertise in timberland and natural capital investments, from fund establishments to successful exits. Hietala holds a M.Sc. in Business Economics of Forestry from the University of Helsinki and has undergone Ph.D. studies in the Doctoral Programme in Sustainable Use of Natural Resources.

Prior to CapMan, Mika Koskinen has worked at SEB, where he over the past five years served as Head of Private Wealth Management & Family Office in Finland. Before that Koskinen has held various positions at SEB, including Global Head of Research, Head of Equities Finland, and Head of Markets Finland.

Antti has 20 years of experience in working with successful growth companies. Before joining CapMan in 2017, he has over 10 years of experience in Private Equity at Tesi and earlier experience in financing growth companies at Finnvera. In addition, he has worked in operative roles in growth companies as M&A director and as CFO.

Mika Matikainen joined CapMan in 2006, one year after the inception of CapMan Real Estate, and became the head of CapMan Real Estate and a management group member of CapMan in 2010. Matikainen has, together with his team, expanded CapMan Real Estate from a local Finnish player into a pan-Nordic asset manager with operations in Finland, Sweden, Denmark and Norway. Simultaneously the investor base of CapMan Real Estate has internationalised substantially, now including international institutional investors from Europe, North America and Asia. Prior to CapMan, he worked for UBS Investment Bank in London.

Anna Olsson joined CapMan in September 2021. Prior to joining at CapMan she worked at ISS ESG, a sustainability consultancy, where she worked since 2015, most recently responsible for the ESG Specialist team in the Netherlands, Nordics, UK & Ireland. Before that, she has held sustainability analyst and project management positions for sustainability consultancies and NGOs.

Ville Poukka has nearly 20 years of experience in private equity and investment banking. Poukka is chair at CapMan Infras investment and ownership management committees.

Poukka has been leading CapMan Infra’s investments in leading Finnish bus operator Koiviston Auto, Norwegian ferry operator Norled, and district heating companies in both Norway and Finland.

Before CapMan Poukka worked at Danske Bank as Managing Director and was responsible for Nordic Energy and Infrastructure sector team in M&A advisory.

Positions of trust:
2022– Board Member, Koiviston Auto Group

Luottamustoimet:

2022– Hallituksen jäsen, Koiviston Auto -konserni

Mari Simula has been part of CapMan’s Management Group and Head of Fund Investor Relations team since 2017. She has long experience from international private asset fundraising, and business development projects. In her current role, she has group-level responsibility of coordinating fundraising and fund investor relations activities. Her international team is co-operating closely with all CapMan’s investment teams and covering a global investor base. Prior to joining CapMan in 2007, she did research on the private equity industry at the Research Institute of the Finnish Economy, Etla.

 

Antti Uusitalo has 15 years of experience in mergers and acquisitions as an investment banker. Before joining CapMan, Antti was Partner and Corporate Finance lead in Finland at EY (2015–2020), and Partner at investment bank Summa Capital (2007–2015).

Michael Morgenroth is the founder and CEO of German-based CAERUS Debt Investments AG, which was initially established in April 2012. Morgenroth is a chartered surveyor (MRICS), property economist (VWA), legal economist (VWA) and banker. He has more than 35 years of professional experience in the areas of investment banking, real estate and property financing.



Morgenroth joined CapMan in 2025 as Managing Partner of CapMan Real Asset Debt investment area when CapMan expanded into real asset debt by acquiring CAERUS Debt Investments.

Mika Matikainen joined CapMan in 2006, one year after the inception of CapMan Real Estate, and became the head of CapMan Real Estate and a management group member of CapMan in 2010. Matikainen has, together with his team, expanded CapMan Real Estate from a local Finnish player into a pan-Nordic asset manager with operations in Finland, Sweden, Denmark and Norway. Simultaneously the investor base of CapMan Real Estate has internationalised substantially, now including international institutional investors from Europe, North America and Asia. Prior to CapMan, he worked for UBS Investment Bank in London.

Jyri Hietala is the Managing Partner of CapMan Natural Capital and member of CapMan’s Management Group. Prior to that, he was the CEO of UB Nordic Forest Management Ltd. Hietala has over 15 years of experience within the forest sector. He has expertise in timberland and natural capital investments, from fund establishments to successful exits. Hietala holds a M.Sc. in Business Economics of Forestry from the University of Helsinki and has undergone Ph.D. studies in the Doctoral Programme in Sustainable Use of Natural Resources.

Ville Poukka has nearly 20 years of experience in private equity and investment banking. Poukka is chair at CapMan Infras investment and ownership management committees.

Poukka has been leading CapMan Infra’s investments in leading Finnish bus operator Koiviston Auto, Norwegian ferry operator Norled, and district heating companies in both Norway and Finland.

Before CapMan Poukka worked at Danske Bank as Managing Director and was responsible for Nordic Energy and Infrastructure sector team in M&A advisory.

Positions of trust:
2022– Board Member, Koiviston Auto Group

Luottamustoimet:

2022– Hallituksen jäsen, Koiviston Auto -konserni

Antti has 20 years of experience in working with successful growth companies. Before joining CapMan in 2017, he has over 10 years of experience in Private Equity at Tesi and earlier experience in financing growth companies at Finnvera. In addition, he has worked in operative roles in growth companies as M&A director and as CFO.

Antti Uusitalo has 15 years of experience in mergers and acquisitions as an investment banker. Before joining CapMan, Antti was Partner and Corporate Finance lead in Finland at EY (2015–2020), and Partner at investment bank Summa Capital (2007–2015).

Michael Morgenroth is the founder and CEO of German-based CAERUS Debt Investments AG, which was initially established in April 2012. Morgenroth is a chartered surveyor (MRICS), property economist (VWA), legal economist (VWA) and banker. He has more than 35 years of professional experience in the areas of investment banking, real estate and property financing.



Morgenroth joined CapMan in 2025 as Managing Partner of CapMan Real Asset Debt investment area when CapMan expanded into real asset debt by acquiring CAERUS Debt Investments.

Prior to CapMan, Mika Koskinen has worked at SEB, where he over the past five years served as Head of Private Wealth Management & Family Office in Finland. Before that Koskinen has held various positions at SEB, including Global Head of Research, Head of Equities Finland, and Head of Markets Finland.