CapMan buys Russian private equity firm

CapMan has acquired Russian private equity firm Norum and will take over ownership of Norum Russia Fund III, which is currently in fundraising. The intial purchase price was EUR3.4m, but this will increase as the fund size increases.

Norum's 13 private equity professionals will form CapMan Russia and Norum Russia Fund III will become CapMan Russia Fund. CapMan has acquired a 51% stake and has the option to acquire the remaining 49% stake when Norum Russia Fund III has completed fundraising. The fund has raised EUR88m to date, with CapMan providing EUR13.5m. The fund has a target of EUR150m.

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