CapMan has reached the first close of its seventh private equity fund, CapMan Equity VII at EURO166 million. CapMan anticipates a final close by the end of June and expects significant further commitments from new investors. A final target for the fund has not been disclosed.
“The new fund will strengthen CapMan’s position as a significant Nordic private equity investor,” said Ari Tolppanen, CEO of CapMan. “The present market situation offers excellent opportunities for private equity investors to make new investments. Traditional industries will continue to consolidate and companies will divest their non-core assets.”
The fund increases CapMan’s funds under management to EURO1.3 billion, of which EURO465 million is managed through its affiliated company, Access Capital Partners. So far the fund has attracted 13 institutional investors including the Swedish pension fund Sjtte AP-fonden and the European Investment Fund. CapMan itself has committed EURO15 million to the fund, which continues to follow CapMan’s investment strategy. The fund will be focusing on the Nordic region and around two thirds of investments will be made in medium-sized buyouts and a third in technology companies in the IT and telecommunications sectors.
CapMan is expanding its activity in the Nordic region, most recently with its acquisition of Swedish technology and life sciences venture capital firm Swedestart to reinforce its presence in the Swedish market.
CapMan’s latest investments include Finnish staffing company Extra Group; jewelry chain Kultajousi; Fastrax, a manufacturer of global positioning systems, and Eltel Networks, a specialist in design and construction of power transmission and telecommunications networks.