Nordic buyouts house
Norum was jointy owned by Norways’ largest financial service group
CapMan already has a €13.5m investment in the fund, which is still on the fundraising trail, and will now market itself under the name CapMan Russia Fund. The size of the fund is currently €88m.
The 13-strong Norum team has been present in the Russian private equity market since 1995. It has offices in Moscow and St Petersburg and strong networks in the Russian regions, and has made 24 investments to date. Hans Christian Dall Nygård, the current managing director of Norum, has been appointed as the head of CapMan Russia Investment Operations. He will report to senior partner Petri Saavalainen, who will assume the responsibility of integrating and developing the Russian business area within the CapMan Group as head of CapMan Russia. Saavalainen was responsible for CapMan’s previous Russian and Eastern European investments in 1995 to 2006.