CapMan is looking to launch a second Nordic value-add real estate fund.

The investment manager, which specialises in Nordic markets, said it is looking to exceed the amount raised for its first fund.

CapMan closed that fund at €273m, backed by institutional investors from Europe and the US, last year.

The second fund will follow a similar strategy to its predecessor, investing in office, retail and residential properties in major Nordic cities.

The first fund, along with Finnish pensions insurer Varma and asset manager Cavendo, recently invested in the Heron City shopping centre in Stockholm. The 49,400sqm asset was bought by the partnership from NIAM for SEK 930m (€98m).

Bayerische Versorgungskammer (BVK), Germany’s largest pension scheme group, this year gave CapMan €400m to invest in Nordic residential markets.

CapMan is helping the €62bn investor increase its exposure to housing in Sweden, Denmark, Finland and Norway.

The Helsinki-headquartered manager has already been sourcing Nordic residential investments for BVK. In April, it helped BVK acquire a Finnish portfolio.