
CapMan bolsters Wealth Services team, plans to scale up offering in Sweden
Finnish sponsor CapMan has bulked up its wealth management division by hiring Mika Koskinen as managing partner of CapMan Wealth Services.
Koskinen will take up the new role from September 2023, at which time he will also join the firm's management team.
He joins from local corporate bank SEB, where for the past five years he headed its Private Wealth Management & Family Office arm.
Christian Borgström, who formerly held the role, will remain in a senior position at CapMan. He proactively advanced the recruitment, said CapMan in a statement, and will continue as senior partner, with a focus on select customer relationships and scaling up the wealth management business in Sweden.
Borgström said on LinkedIn that he is "extremely" excited for the pair to work together.
The sponsor formed CapMan Wealth Services Investment Partners Fund, a fund-of-funds targeting US mid-market buyout GPs, in partnership with AlpInvest in October 2021.
The move comes as private asset managers are increasingly trying to tap into wealth management and family offices as additional pools of capital to deploy.
Secondaries manager Coller Capital has recently established a new arm for this purpose, while large GPs like BlackRock are mulling new products for sophisticated retail investors.
CapMan Wealth Services (CWS) is CapMan's wealth management unit, offering wealth management services for public and private markets. The team offers clients services based on their demands, objectives and risk tolerance, supported by extensive reporting, said the sponsor in a statement.
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