CapMan Nordic Real Estate III fund (CMNRE III), a vehicle managed by CapMan Real Estate, has raised €313 ($363 million) of equity commitments from Nordic, European and North American institutional investors.
The fund is targeting €500 ($581 million), which would make it the largest fund in CapMan’s operating history to date. With leverage, the fund will have more than €1.2 billion ($1.4 billion) in gross investment capacity.
“The quick fundraising process clearly shows the strong interest from our investors towards our proven value-add strategy and also demonstrates their trust in our strong local team operating in Helsinki, Stockholm, Copenhagen and Oslo,” said Mika Matikainen, managing partner of CapMan Real Estate.
Matikainen noted the fund’s investor base is distinctly international, with some 70 percent of commitments coming from outside the Nordic countries.
Like its predecessors in the fund series, CMNRE III invests mainly in transiti
