CapMan Buyout VIII has closed on €440m, exceeding its original target of €375m. As with its previous buyout funds, the vehicle will make investments in middle-market buyout transactions in the Nordic region.
A total of 31 institutional investors joined CapMan Buyout VIII. The fund attracted 15 new institutional investors in CapMan funds including 10 from Europe and the US. CapMan’s own commitment to the fund is €37.5m, corresponding to 10% of the original target size.
Over the past few years CapMan Buyout has invested in 13 Nordic middle-market transactions from its previous buyout fund. The new fund’s investment focus is on companies with a core Nordic presence and with potential for further regional or international expansion.
The target companies typically have enterprise values between €50m and €250m and operate in industries that are consolidating or changing. To-date, CapMan Buyout VIII has invested in Swedish fashion retail chain MQ Sweden AB and in Finnish provider of healthcare and laboratory products Tamro MedLab.