Finnish private equity fund manager Capman Real Estate has closed its second pan-Nordic value-add fund after receiving €425 mln of equity commitments from both existing and new investors.
The closing is the first and final one for Capman Nordic Real Estate II (CMNRE II) and brings the fund's investment firepower to over €1 bn, with over 60% of leverage.
The vehicle met with strong demand from new investors from the Nordics, Europe and the US and quickly became oversubscribed, Capman said. It will primarily invest across the office, retail and residential sectors in the most liquid real estate markets in the Nordics.
The fund has a total of 30 investors, with each region representing roughly a third of the invested capital.
Capman’s first Nordic Real Estate fund raised €273 mln at the final close in 2015.
'We continue to see interesting opportunities throughout the Nordics in our focus areas and believe we can continue providing good returns to our investors by maintaining our disciplined approach,' said Mika Matikainen, managing partner of Capman Real Estate.
Capman Real Estate was advised by Scala Fund Advisory, Wren Capital and Ashurst in the establishment of CMNRE II fund.
Capman Real Estate, part of asset management group Capman, has a team of over 30 real estate professionals in Helsinki, Stockholm and Copenhagen. It currently has over €1.7 bn of assets under management and the first fund was established in 2005.
