CapMan Real Estate press release 19 October 2017 at 10.00 a.m. EEST
CapMan establishes new pan-Nordic open-ended real estate fund
CapMan establishes a new pan-Nordic real estate fund, CapMan Nordic Property Income Fund ("CMNPI"), which is CapMan's first open-ended real estate fund with a non-UCITS structure.
CapMan Real Estate widens its product offering by establishing the CMNPI fund, which focuses on stable income generating properties in the largest and most liquid Nordic cities with solid long-term growth fundamentals. In line with the recently announced second pan-Nordic value-add fund, CapMan Nordic Real Estate II, the CMNPI fund targets mainly offices and necessity-driven retail assets, but it also will invest in other real estate sectors providing stable and predictable income, such as logistics properties.
By launching the CMNPI fund CapMan aims to offer its real estate expertise to an increasing number of investors. In addition to CapMan's typical large institutional clients, the open-ended structure of the fund makes it suitable for smaller investors. The fund accepts new investments each quarter, while the investors may redeem their investments on a semi-annual basis. The fund has a strong pipeline of investment opportunities, and expects to make its first acquisitions during 2017. The fund has no pre-set target size, but aims to accumulate over EUR 200 million of equity during the first two years of its operations.
"In the prevailing low interest rate environment there is an immense demand for income-producing real estate instruments that also provide liquidity. During the pre-marketing the fund has received strong interest from prospective investors. CapMan Nordic Property Income Fund targets stable returns by diversifying its portfolio across the Nordic growth cities. We typically target properties with long leases with strong anchor tenants or expect the properties to have a well-diversified tenant base," says Mika Matikainen, Managing Partner of CapMan Real Estate.
"CapMan Nordic Property Income Fund is CapMan's first open-ended fund. Our target is to offer more flexible investment products to our clients, and to be able to serve an ever-wider group of investors. CapMan's new open-ended real estate fund is an example of a product that is well-suited for many different investor groups. CapMan Real Estate has a unique platform with a strong experience and track record in the Nordics, which will be instrumental for the success of the new fund," says Joakim Frimodig, CEO of CapMan Plc.
CapMan Real Estate has a team consisting of over 30 real estate professionals in Helsinki, Stockholm and Copenhagen. CapMan Real Estate was established in 2005 and it currently has over EUR 1.7 billion of assets under management.
For further information, please contact: Mika Matikainen, Managing Partner, CapMan Real Estate, tel. +358 40 519 0707 Joakim Frimodig, CEO, CapMan Plc., tel. +358 50 529 0665
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CapMan is a leading Nordic investment and specialised asset management company. As one of the Nordic private equity pioneers we have actively developed hundreds of companies and real estate and thereby created substantial value in these businesses and assets over the last 28 years. CapMan has today 110 private equity professionals and manages €2.7 billion in assets. We mainly manage the assets of our customers, the investors, but also make direct investments from our own balance sheet in areas without an active fund. Our objective is to provide attractive returns and innovative solutions to investors and value adding services to professional investment partnerships, growth-oriented companies and tenants. Our current investment strategies cover Buyout, Growth Equity, Real Estate, Russia, Credit, Infrastructure and Tactical Opportunities. We also have a growing service business that currently includes fundraising advisory, procurement activities and fund management.
