CapMan Buyout IX Reaches Final Close Well Below Target

Suffering from the fallout of the sustained global economic crisis, CapMan has announced the closing of its CapMan Buyout IX fund at a level well below the original target. With institutional investors pulling back investments in private equity, a loss of nearly 80% in 2009, the CapMan fund only managed to secure € 294.6 million of the €450 million they had hoped for.

Of the total amount raised, € 13 million was contributed by CapMan Plc. with the balance coming from institutional investors in Europe, the U.S., and the Nordic region.

CapMan Buyout IX
CapMan Buyout IX is the ninth buyout fund, and one of 18 total funds, managed by Nordic investor CapMan Plc. The fund is aimed at buyout opportunities in small and mid-cap companies in both the Nordic region and Russia.

The fund was established in the fall of 2008 and announced a first closing in December of that year at €203 million. The fund has made three investments so far, including Finnish companies Esperi Care and Havator Group, and Sweden’s Metals and Powders Thomas Klier.

CapMan Buyout IX is planning up to seven more investments from the fund.

CapMan (www.capman.com)
CapMan was established in 1989 and has emerged as one of the leading private equity firms operating within the Nordic and Russian markets.

CapMan is a active in the life sciences, manufacturing, medical, retail, IT, and telecom sectors. The fund prefers companies with a €50 million to €500 million annual turnover, investing between €10 million and €50 million per transaction. Investors in the firm’s funds are mostly pension funds, insurance institutions, banks, public organizations, and funds of funds.

In addition to their Helsinki headquarters, CapMan also has offices in Copenhagen, Guernsey, Moscow, Oslo and Stockholm.