Infra
Building sustainable societies
CapMan Infra invests in energy and utilities, transportation, and digital infrastructure across the Nordics. We are a dedicated team of infrastructure specialists, supported by CapMan’s three decades of experience in private asset investment. As active asset owners, we drive sustainable development in businesses that form the backbone of our society.
SECTOR focus
We are a leading Nordic investment specialist within the energy & utility, transportation, and digital infrastructure sectors.
Sustainability Integration
Sustainability is embedded in our investment strategy, guiding value creation across all investments.
ExperienceD team & strong Track Record
Our experienced local team has extensive sector expertise and comprehensive regional networks, enabling proprietary deal sourcing and active value creation.
Mid-Cap Strategy
We focus on mid-cap transactions with limited competition, leveraging our team’s expertise in complex situations, and our solution-oriented approach.
Lasting societal impact
We invest in and develop essential services that improve Nordic infrastructure, with the aim of delivering measurable and lasting benefits to local communities and businesses.
Local nordic expertise
We leverage our deep regional expertise, extensive Nordic networks, and local presence to build close partnerships and a strong understanding of local markets.
Active
ownership
We work closely with entrepreneurs and management teams, taking a hands-on approach to drive growth and long-term value creation.
.
Our approach
Our approach is built on active, hands‑on ownership focused on strengthening platforms, scaling businesses and driving operational excellence. Working closely with management teams and public and private stakeholders, we de‑risk, reposition and develop assets to create long‑term value and resilient performance.
Our target sectors
We invest in essential Nordic infrastructure that supports the functioning of communities and the long‑term resilience of society. Our focus is on assets across the energy & utilities, transportation and digital infrastructure sectors, where long‑term demand and structural growth drivers create attractive investment opportunities.
-
Key sectors
- District heating
- Power generation and distribution
- Waste and biogas
- Water and sewage
Portfolio companies
-
-
Key sectors
- Ports and terminals
- Specialised logistics
- Rail
- Public transportation
Portfolio companies
Our services
We are the leading local specialist in Nordic energy, digital infrastructure, and transportation, aiming to build a diversified portfolio across the Nordics. We invest in essential infrastructure assets with long-term value creation and growth opportunities, supported by structurally strong and evolving markets.
-
Aging infrastructure, new developments, and continuous investment needs in an evolving operating environment create both challenges and opportunities for asset owners. We believe that partnering with the right investor unlocks new strategic options for both public and private stakeholders—whether to enable investment, support long-term development, or address increasingly complex operating requirements.
We have extensive experience across a broad spectrum of counterparties, from private sector corporates and family‑owned businesses to public sector entities. We are a hands‑on, long‑term partner with a strong experience from value‑creation, and we actively seek opportunities where we can contribute strategic insight, capital, and expertise.
Our team is based in Helsinki and Stockholm, working closely together and supported by a strong network of local advisors. We are flexible in designing partnership models tailored to each project and the specific needs of our partners. Contact us to explore collaboration opportunities—let’s find the right way to work together.
-
Structural demand in the Nordics is driven by the energy transition, digitalisation, and decades of underinvestment in critical infrastructure, underpinning strong fundamentals for infrastructure investments. At the same time, the region benefits from a stable macroeconomic and regulatory environment, with an increasing reliance on private capital to support infrastructure development across sectors.
The Nordics are energy‑intensive economies at the forefront of the green transition, creating sustained demand for capital to develop, modernise, and expand infrastructure assets across our target sectors.
We operate a proven strategy focused on the Nordic lower mid‑market, where we can find attractive opportunities with limited competition. Our highly experienced local team with strong Nordic networks enables proprietary deal flow and a hands‑on approach to value creation throughout the investment lifecycle.
-
Key figures
800
Million € infrastructure assets under management
10
Assets in portfolio
+100
Years of aggregate experience
4/5
PRI and GRESB rating for Infra investments*
*According to the latest Principles for Responsible Investment and GRESB assessments done in 2025.
Our team
Ville Poukka
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
Pekko Haaksluoto
Pekko has been leading CapMan Infra’s investments in Norwegian salmon harvest vessel operator Napier, Norwegian ferry operator Norled, and district heating companies Loviisan Lämpö in Finland and Nydalen Energi in Norway.
Pekko is based in Helsinki, Finland. Before CapMan, he worked at Danske Bank’s M&A advisory team.
Positions of trust
Board Member, Napier AS
Board Member, Loviisan Lämpö Oy
Board Member, Nydalen Energi AS
Harri Halonen
Before joining CapMan Harri was a Director at Brunswick Real Estate in Stockholm where he assessed real estate and infrastructure opportunities for the group. Prior to this he helped to establish the Infrastructure Investments platform at Swiss Life Asset Managers. While there, the team invested c EUR 1 billion and Harri was involved in several direct investments across OECD countries. Before this Harri worked at Macquarie Infrastructure and Real Assets in London, managing telecommunication assets and participating in various transactions across a wider range of asset classes in Europe.
Harri studied business management at King’s College, University of London where he graduated with 1st class honours and was a recipient of an award of excellence for his grades and contribution to the college.
Positions of trust
Board Member, Skarta Energy
Board Member, Valokuitunen
Board Member, DC Platform (Fuzion and Severius)
Laura Karikko
Sustainability themes
We invest in the green transition by developing assets that enable decarbonisation and by accelerating the shift of infrastructure toward low-carbon and resource-efficient alternatives. We believe resilient infrastructure is infrastructure that can adapt and perform over the long term while supporting climate goals, safeguarding nature, and delivering accessible and reliable services for people and communities. Our approach is tailored to the material risks and opportunities of each portfolio company to strengthen resilience and long-term value creation.
Latest updates
see all
CapMan Infra invests in Hansabuss to support the development of public transportation in the Baltics
CapMan Infra acquires majority stake in Nordic helicopter services provider HeliAir Sweden
CapMan Infra sells its stake in Finland’s leading fiber-to-the-home company Valokuitunen to Brookfield Infrastructure Structured Solutions and Telia
CapMan Infra’s portfolio company Koiviston Auto Group completes EUR 300 million refinancing
Building sustainable value through renewable energy
Our strategy for a Diversified Real Assets Portfolio in the Nordics
CapMan Infra improved its portfolio companies’ GRESB scores across the board
Teemu Helistekangas appointed Group CEO of CapMan Infra’s portfolio company ProPellet
Finnish innovation – the world’s largest sand-based thermal storage – inaugurated in Pornainen
CapMan Infra’s ProPellet invests in Geo Geo Oy to expand its heat-as-a-service business to ground source heating solutions
Our funds
| Name | Size | Year | Phase |
|---|---|---|---|
| CapMan Nordic Infrastructure II | €375m | 2022 | Actively investing |
| CapMan Nordic Infrastructure I | €190m | 2018 | Value creation & exit |