CapMan Credit renames, holds €100m close for debt fund

The GP started fundraising during autumn last year and expects to hold the final close during H2 2016. Nest Capital did not comment on the fund's target or hard-cap and will announce the vehicle's name later in the year. 

CapMan is using its own fund advisory business (renamed Scala Fund Advisory in January) as placing agent, while Borenius will advise on the legal side.

The Finland-based debt fund will invest between €5-20m per transaction, with the first deal expected within the next month. 

The €95m CapMan Mezzanine V Fund closed €55m below target in September 2010. It made eight private debt investments, of which four have been repaid to date.

Investors
Investors in the fund include Nordic and European insurance companies, pension funds and other institutional investors and family offices. CapMan has committed €2m to the fund.

Investment
The fund will provide private debt, mainly in the form of unitranche and mezzanine, to small and medium-sized companies across the Nordic countries. The fund's private debt investments are expected to support leveraged buyouts, add-on acquisitions and expansion projects, as well as refinancings and recapitalisations.

People
Nest Capital – Niklas Östborn, Felix Vilval (partners).
CapMan – Niko Haavisto (CFO).

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