CapMan

CapMan has published its results for 1 January–30 September 2024! 🌟 Strong growth continued in the third quarter, as assets under management reached EUR 6.0 billion, up 20% from the start of the year and exceeding overall market growth rate. Key highlights below. All figures reflect continuing operations, comparison periods' figures are restated accordingly. 🔷 Assets under management EUR 6.0 billion 30 September 2024 (EUR 5.0 billion 31 December 2023). 🔷 Group turnover was MEUR 43.7 1 January–30 September 2024 (MEUR 37.9 1 January–30 September 2023). 🔷 Fee income was MEUR 39.9 (MEUR 34.9). 🔷 Carried interest was MEUR 3.8 (MEUR 3.0). 🔷 Operating profit was MEUR 11.1 (MEUR 5.1). Comparable operating profit was MEUR 13.1 (MEUR 5.1). 🔷 Fee profit was MEUR 6.5 (MEUR 3.9). 🔷 In March, CapMan Plc completed the acquisition of Dasos Capital Oy. 🔷 In June CapMan announced final tender offer results for its outstanding bond due 2025 and issued a new MEUR 60 sustainability-linked bond 🔷 In October, CapMan announced the divestment of service business CapMan Procurement Services (CaPS) Ltd for MEUR 75. CaPS business is classified as a discontinued operation in the income statement and the comparison periods' figures are restated accordingly. “Strong growth of the fund management business continued in the third quarter. Assets under management reached EUR 6.0 billion, a 20% growth since beginning of year, and EBIT more than doubled as all earning components grew compared to previous year. This development exceeds the overall market growth and shows our resilience in a more challenging market environment. Our strategy is to grow the fund management business, and in line with this CapMan Plc completed the divestment of service business CaPS for EUR 75 million. This released resources to grow the fund management business, reduce external debt and enable strong dividend distribution during the coming years”, comments CapMan’s CEO Pia Kåll. Read more in the report and tune into the result webcast this morning at 9:30 EET (links in comments) 👇 #CapMan #QuarterlyReport2024 #Q3

CapMan’s distribution partner Nordea hosted an event at the historic Old Banking Hall on Monday, with CapMan presenting insights on the natural capital and real estate markets. During the event we were also able to share the exiting news that CapMan’s cooperation with Nordea is further deepening and now, certain CapMan Real Estate and Natural Capital funds are available through Nordea Life & Pension's unit-linked insurance. More information is available at Nordea's website, link in the comments.   The evening began with a market outlook from Nordea’s Chief Economist, Tuuli Koivu, who shared a cautiously optimistic view thanks to the recent drop in interest rates. However, she noted the difficulty of predicting the potential impacts of the U.S. presidential election on the market.   Following, Sami Veijalainen, Partner at CapMan Natural Capital, provided an overview of natural capital investing at CapMan. He highlighted that natural capital, as an asset class, has low correlation with other asset classes, offering a stable return profile that remains resilient across political cycles. Ilkka Tomperi, COO & Partner at CapMan Real Estate, discussed the current real estate market landscape, noting that property values have reached their bottom recently and are poised for an upward trend. Oskari Isolauri, Fund Director at CapMan Real Estate, concluded by presenting highlights of portfolio assets across the Nordics held by funds advised by CapMan Real Estate. Representing CapMan and answering questions at the event were also Riikka Samaletdin and Hannes Kokkonen. Thank you to Raine Rautauoma, Hanna-Kaisa Laari and Jukka Haimi for hosting and the whole Nordea team for making the event a success! 💎 #CapMan #nordea #nordeaprivatebanking #RealEstate #NaturalCapital

Last week, CapMan’s CEO Pia Kåll participated in the 8th edition of the Future Investment Initiative conference, FII8, in Riyadh. This year’s theme, “Infinite Horizons: Investing Today, Shaping Tomorrow,” brought together around 8,000 C-level executives from across the globe for three days of high-calibre talks focused on the role of investments in driving transformative, long-term sustainable change. Pia spoke on a panel titled “How Are PE Firms Enhancing Portfolio Company Performance?” alongside Huda Al-Lawati, Founder & CEO of Aliph Capital; Bob Diamond, Founder & CEO of Atlas Merchant Capital; May Nasrallah, Executive Chairwoman of deNovo Partners; and Henry Zhang, President & Managing Partner of Hermitage Capital. The panel was moderated by Maya Hojeij, Business News Anchor at Asharq Business with Bloomberg. A key point from Pia: The ‘good times’ of private equity are far from over. While the market may seem gloomy with higher interest rates and lower transaction volumes, these conditions create excellent investment opportunities. Historically, private equity has outperformed the stock market, especially in challenging times, by driving sustainable growth and profit improvements that build stronger companies with positive social and economic impact. A full recording of the panel discussion is available online. Link in comments! #FII8 #FutureInvestmentInitiative #PrivateEquity #CapMan

From classroom to career: what can real estate investment industry look like? Joonas Hacklin, Investment Manager at CapMan Real Estate, recently visited Lappeenranta to share real estate insights with business school and industrial engineering students of LUT University. Joonas introduced CapMan Real Estate and covered topics ranging from investment strategies and property valuation to transaction processes and the latest market trends. He also discussed the many career paths within real estate. By sharing his own career journey and leading an interactive case assignment, he offered students a chance to connect academic learning with real-world scenarios. A huge thank you to the LUT Real Estate Investment Club for organising the evening and to everyone who joined – CapMan Real Estate is always eager to support student learning by sharing practical insights and connecting with future professionals! 🎓🤝💼

Halloween arrived at CapMan’s Helsinki office as CapMan Wealth welcomed its clients to a themed afterwork yesterday! 🎃🍬 The spooky evening featured a Halloween quiz with private equity-themed questions, a "Scary Markets" overview that dived into some of the most haunting market events from the past, and a darts competition. Thanks to everyone who joined us for the evening! 👻

CapMan’s CEO Pia Kåll joined Private Equity Insights Nordics in Stockholm last week in a panel together with industry leaders Reidun Tysseland, Managing Partner at Cubera, Jan Johan Kühl, Managing Partner at Polaris Private Equity, and Nathalie Chollet, CFA, Head of Northern Europe - Lower Mid-Market investments at EIF. ✨Interesting discussions around the macro-economic outlook and its impact on private equity performance and fundraising market, the impact of increasing regulation, especially within sustainability, and transaction market development and valuations. ✨ Thank you to all who joined and Hasan Qaiser from Private Equity Insights for moderating!

CapMan Real Estate's COO & Partner, Ilkka Tomperi, will be attending the 15th ANREV Annual Conference in Hong Kong on 6–7 November! 🏙️ If you're interested in learning more about or discussing the Nordic real estate markets, don't hesitate to get in touch with Ilkka. He'd be happy to connect and share insights. Looking forward to seeing you there! #CapMan #RealEstate #Nordic #ANREV2024

Last week, we had the pleasure of welcoming students from the Aalto Private Equity Club to our Helsinki office! The visit provided an excellent opportunity for students to learn about CapMan and the private assets industry as well as for us to connect with future talents. 🤝 We kicked off the evening with an overview of CapMan from Riikka Samaletdin, Director, Fund Investor Relations. Following that, Joonas Korkalainen, Oskari Elmén, and Karri Keistinen provided insights into the private equity landscape covering our different PE strategies. After a short break, the rest of our investment teams took the stage, with Joonas Hacklin representing CapMan Real Estate, Vinski Siponen and Eemeli Bergskaug discussing CapMan Infra, and Hannes Kokkonen presenting on CapMan Natural Capital. To conclude the evening, we were able to continue discussions in a relaxed atmosphere over a sushi dinner. 🍣✨ Thank you to everyone who participated - we truly appreciate the engaging conversations and thoughtful questions from the attendees, reflecting their interest in the private assets landscape!

Great news as CapMan Special Situations invests in Edita Prima, a leading provider of comprehensive customer communication services. "Edita Prima has a strong and respected brand within its industry, and we are pleased to begin this journey alongside the dedicated management team. This transaction will enable accelerated business development, supporting the company’s growth towards becoming a leading provider of digital customer communication services," says Karri Keistinen, Investment Associate at CapMan Special Situations. "This opens a new chapter in the story of a great company. Customer orientation is in Edita Prima's DNA, and we are known as a competent and reliable partner. We are convinced that together with CapMan we will create even better services for our customers and achieve our vision of becoming a leading technology company in the industry," says Heikki Autio, Managing Director of Edita Prima. In connection with the transaction, Edita Prima's management will also become shareholders of the company. The transaction is subject to approval by the Finnish Competition and Consumer Authority. Read more on our website, link in comments. ⤵️

From decarbonisation to nature positivity in real estate – how do we move from theory to action? Last Friday we gathered in Stockholm for a breakfast event and webinar focusing on how the real estate industry could move from just reducing emissions to looking at nature more broadly and acting to create a real positive impact on nature. Not an easy task – but one we argue is worthwhile. Together with industry professionals Anna Rannisto, Sustainability Director at CapMan Real Estate, Åsa Soutukorva Swanberg, Head of Department Circular Economy & Climate Strategies at Ramboll, Peter Ullstad, Architect, and Marcus Lotzman, Head of transactions Sweden at CapMan Real Estate, we dived into this wide and relevant topic. Big thank you to our speakers and all who joined us live in Stockholm as well as through the webinar. Until next time!