Nordic buyout house CapMan has closed its first public market fund on €138m, a year after it was launched.
The vehicle targets listed mid-cap Nordic companies, those with a market capitalisation of between €50m and €400m.
The fund is backed by nine Nordic institutions as well as a €7m investment from CapMan itself. This was originally €15m, but the final fundraising round saw an extra €40m brought it, of which €8m was used to reduce the firm’s commitment.
The CapMan Public Market Fund already has one investment under its belt – Nobia, a Swedish manufacturer and seller of kitchens and the company behind HTH in the Nordic countries, Magnet in the UK, and Poggenpohl internationally.