CapMan closes Public Market Fund on EUR138m

Fund

Finnish private equity firm CapMan has held a final close of its Public Market Fund on EUR138m. The new vehicle was launched early 2008 and held a first close on EUR90m in July last year. The fundraising process was co-ordinated by CapMan's in-house fundraising team, and legal counsel was provided by law firm Ashurst.

The lifespan of the fund is 10+3 years. Carry and management fees are equal to that of other CapMan funds. The carry is split 50/50 between CapMan and the fund management team.

Investors

Eight Nordic institutional investors subscribed to the fund, in addition to the GP itself, which reduced its commitments from EUR15m to EUR7m.

Investments

The vehicle invests in listed Nordic companies with market capitalisations of EUR50-400m, and applies private equity management practices to the portfolio companies. The fund's investment period is three years and investments range from EUR10-30m, with the sweetspot being EUR20-25m per transaction. The fund aims to take stakes of 10-30%.

The first investment was completed in March this year when CapMan acquired a 6.22% stake in kitchen company Nobia AB. CapMan has later increased its stake in the company to approximately 8%.

People

Senior partner and head of CapMan Public Market Jukka Ruuska is the main manager of the fund. The fundraising process was led by senior partner and head of investment services Jerome Bouix.

Name: CapMan Public Market

Closed on: EUR138m

July 2009

Focus: PIPEs, Listed Nordic companies

Contact: Jukka Ruuska

Address: Korkeavuorenkatu 32, 00130 Helsinki, Finland

Tel: +358 207 207 500

Advisers

Ashurst (Legal).

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