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CapMan aims to double AUM to EUR 10bn by 2026 including via M&A

Ero Partsakoulaki
07 September 2022

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Finnish private equity firm CapMan has announced new strategy and updated long-term financial objectives including a growth target to double assets under management to EUR 10bn over the next five years.

The GP aims to launch new products and execute acquisitions within its private asset space, it announced today. CapMan will look in the investment product area rather than the distribution area when it comes to the M&A focus going forward.

“We are looking at the Nordics and potentially Northern Europe [in relation to M&A],” CEO Joakim Frimodig said during the firm’s Capital Markets Day presentation today.

New products and M&A will account for 20% of CapMan’s growth drivers for AUM by 2026, according to the firm’s presentation. Private equity will account for 25% of the GP’s strategy with real estate and infrastructure operations accounting for 45% and 30% respectively.

CapMan’s investor base has been increasingly international since 2017, when international investors accounted for 10%, having reached 55% in Q2 2022. The firm aims now to further increase its international LP base to account for 75% of its capital sources by 2026, according to the presentation.

Following the GPs updated strategy, the combined growth objective for its management company and service businesses has been raised to more than 15% per annuum on average from previous 10%. The objective to pay an annual dividend to its shareholders will remain unchanged.

Moreover, CapMan aims to put sustainability at the core of its operations monitored through indicators that follow GHG emissions, employee satisfaction and diversity of management, according to the announcement.

The GP held a EUR 53m first close in June 2021 for its first Special Situations fund, according to Unquote Data. A fundraising target has not been disclosed, but the vehicle is expected to close in autumn 2022, as reported.

The fund’s first deal was children’s indoor play centres operator HopLop Group. In December 2021, the fund made its second deal, acquiring a majority stake in marina, breakwaters and commercial floating structures specialist Marinetek.