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Provider: Reuters Investment Profile

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CapMan Oyj Establishes Nordic Private Equity Real Estate Fund

Thursday, 7 Mar 2013 02:05am EST 

CapMan Oyj announced that it has established its fourth private equity real estate fund in the Nordic countries. The investment capacity of CapMan Nordic Real Estate (CMNRE) is approximately EUR 125 million after the first closing that was held on March 6, 2013. CMNRE invests mainly in properties with value-add potential that can be realized through active management. The focus of the fund is in office and retail properties located in the Nordic countries. Together with CapMan and the team, five institutional investors from Finland and the United States have committed a total of EUR 50.1 million to CMNRE at the first closing of the fund. CapMan's and the investment team's own investment in the fund is EUR 8.1 million. Investments made by CMNRE are financed with an average of between 50% and 60% debt financing, providing a current investment capacity of approximately EUR 125 million. Fundraising for the fund continues and CapMan expects to achieve the final closing for the fund in 2014 at the latest. The investment focus of CMNRE is office and retail properties with opportunities in growth centers in the Nordic countries. The objective of the CMNRE fund is to actively manage and add value to properties over a period of between three and five years and then sell. CapMan Real Estate's Nordic team consists of 20 investment and asset management professionals in Helsinki and Stockholm. 

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