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FINLAND/RUSSIA - CapMan buys Russian private equity firm

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CapMan has acquired Russian private equity firm Norum and will take over ownership of Norum Russia Fund III, which is currently in the fundraising process. The intial purchase price is EUR 3.4m, which 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 EUR 88m to date, with CapMan providing EUR 13.5m. The fund has a target of EUR 150m.
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