CapMan rolls out incentive plan for top team

Nicole Tovstiga
02 February 2018

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CapMan has unveiled an incentive plan for its senior and management team to participate in a share-buying scheme in the listed PE firm.

The listed buyout house has invited senior employees and members of management to purchase shares based on their performance over the next three years. The selected staff members will then be given an increase in shares in 2021, subject to a lock-up period of one year.

Performance will be determined based on personal records and company returns, with the performance period commencing on 1 April 2018 and ending on 31 March 2021.

Around 20 individuals will be invited to participate in the scheme, with CapMan allocating around 6 million shares.

CapMan has recently reshuffled its management team, after chief executive Heikki Westerlund resigned in March 2017. Joakim Frimodig was appointed CEO in September 2017, having acted as interim CEO and deputy CEO since May 2017.

The private equity investor plans to launch its new fund CapMan Buyout XI in 2018, according to Unquote Data. The firm's previous fund, Buyout X, was understood to be almost fully invested as of October 2017.