Helsinki-based private equity firm Capman has secured backing from US and Finnish institutions for a new Nordic real estate fund.
Helsinki-based private equity firm Capman has secured backing from US and Finnish institutions for a new Nordic real estate fund.
Capman Nordic Real Estate (CMNRE) has €125 mln of investment capacity after the first closing held this month.
CMNRE, Capman's fourth real estate fund for the Nordic region, will invest mainly in properties that offer value-add opportunities through active management. The focus is on office and retail properties located in the Nordic countries.
Together with Capman and the team, five institutional investors from Finland and the US have committed a total of €50.1 mln to CMNRE at the first closing of the fund. CapMan and the firm's investment team contributed €8.1 mln.
Investments made by CMNRE will be financed with an average of 50-60% debt financing, providing a current investment capacity of approximately €125 mln. Fundraising for the fund continues and Capman said it expected to hold the final closing for the fund in 2014 at the latest.
