Capman Real Estate has completed the final close of the Capman Nordic Real Estate III fund at EUR 564M of equity commitments, exceeding its target size of EUR 500M and reaching its hard cap. The Fund is the largest in CapMan’s operating history. With leverage, the gross investment capacity of the fund exceeds EUR 1.4 billion. 

The fund was established in September 2020 and the efficient fundraising included Nordic; European; North American and Asian institutions, with more than 80 percent of commitments coming from outside the Nordics. The majority of capital came from investors that have invested in previous CapMan Real Estate funds, but there are also a significant number of new international investors participating in the fund.

In line with its predecessor funds, CMNRE III invests mainly in transitional offices and mixed-use assets as well as select residential strategies. The fund focuses on the most liquid markets including the capital city regions and other major growth centres in Sweden, Finland, Denmark and Norway. The fund may also invest selectively in other property sectors supported by prevailing megatrends.

“We’re delighted to announce this record-breaking final close, despite the global pandemic. We would like to thank our investors for their confidence in the Capman Real Estate team and the value-add product that we have developed over three vintages since 2013. The fund has already committed approximately a quarter of its capital to transactions in Sweden, Denmark, Finland and Norway,” says Nigel Pedroz, Partner at Capman Real Estate.