Natural Capital
ENHANCHING EVERGREEN
CapMan Natural Capital manages investments focusing on sustainable forest assets, natural capital, and circular economy related to forests. For us, these investments are environmentally and socially responsible activities that integrate sustainability while generating market returns. We make sustainable investments happen.
one of the Leading European Forestry Managers
Recognised as one of the leading European forestry fund managers with a long track record.
Sustainability Focus
Deep commitment to sustainable investing, with a focus on supporting long-term value creation through climate change mitigation and biodiversity enhancement.
Long and Credible Track Record
The team has a diverse background in forestry and decades of hands-on experience in forest and natural capital fund management.
Appealing Fund
Structure
The structure of the funds is crafted in accordance to institutional investor industry standards.
Diversified and stable returns
The funds’ strategy seeks to provide investors with attractive long-term returns by creating a European forest and nature capital investment portfolio that is geographically diversified, covering multiple tree species, age groups and markets.
European demand for wood is strong
Future consumption of wood is driven by an increasing manufacturing of low carbon footprint products. Europe is home to some of the world’s most efficient, modern forest industry mills, supported by strong supply chains, world-class infrastructure, and political and economic stability.
Low natural risk occurrence
Europe offers one of the lowest natural risk profiles globally for forest investors. Exposure to natural disasters, such as earthquakes, floods, cyclones, or catastrophic fires, is minimal. Additionally, well-managed and actively monitored forests lower escalation risks.
Our approach
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Our forest management approach
Our forest management approach combines long-term value creation with measurable climate and biodiversity outcomes. We actively manage forests to optimise growth, resilience and timber quality while safeguarding ecosystem integrity. Management decisions are guided by data, most recent science-based methodologies and continuous monitoring. We apply site-specific silviculture, promote mixed-species stands, and enhance structural diversity to strengthen forest health and reduce climate-related risks. Harvesting levels are aligned with sustainable yield principles, ensuring that growth exceeds removals over time. Investments are made only in certified or certifiable forests.
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Local expertise. Pan-European reach.
CapMan Natural Capital funds have invested in nine European countries in the Nordics, Baltics, Iberia, UK & Ireland, and Central Eastern Europe. We leverage local asset managers and a pan-European network of over 100 forestry professionals, providing broad market insight and privileged access to investment opportunities.
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How we create added value
ACTIVE FOREST MANAGEMENT
Active forest management with forestry professionals to optimise value creation and revenue flow throughout the production chain.
SECURING THE BEST PRICE
Aiming to secure the best possible wood price through partners, sales contracts and forest certification price premiums.
SUPPLEMENTARY REVENUE SOURCES
Identifying supplementary revenue sources: wind and solar energy projects and other carbon and nature-based revenues where feasible and measurable.
2005
Dasos capital oy was established
8
funds SINCE INCEPTION
>100
years of forestry experience
Top 5
one of largest forest managers in europe
Sustainability themes
Sustainable forest management is the foundation of our approach with resilience as its core objective. A productive forest that is climate-adapted, ecologically healthy, and socially accepted is one that can sustain yield and create value over decades. We invest in certified or certifiable forestsand manage them across four themes: carbon-smart forestry, enhanced nature and biodiversity, socio-economic value, and transparency and accountability.
Our forest portfolio
see funds
Natural Capital funds
| Name | Year | Fund Type | Phase |
|---|---|---|---|
| CapMan Dasos European Forest Fund IV | 2025 | Closed ended | Actively investing |
| CapMan Dasos Sustainable Forest III (non-UCITS) | 2021 | Open ended | Actively investing |
| Dasos Timberland Fund II SICAV-SIF | 2013 | Closed ended | Value creation |
| Dasos Timberland Fund I SICAV-SIF | 2009 | Closed ended | In liquidation |
Our team
Jyri Hietala
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.
Latest updates
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CapMan Natural Capital and S-Bank’s forest fund agree on a 6,500-hectare forest portfolio transaction
Finsilva — piloting a new market for biodiversity in Finland’s forests
CapMan Natural Capital completes divestment of Baltic forest portfolio to Inter IKEA and continues with new European Forest Fund IV
CapMan Natural Capital announces first close of European Forest Fund IV
