The Los Angeles County Employees Retirement Association (LACERA) has unanimously approved a €75 million ($91 million) commitment to the Capman Nordic Fund III (CMNRE III).
The closed-end real estate fund, managed by CapMan Real Estate, invests in a diversified portfolio, primarily in Sweden, Denmark and Finland, and secondarily in Norway.
CapMan Real Estate opened CMNRE III in September 2020 with initial commitments of €313 million ($379 million) from Nordic, European and North American institutional investors. The fund is targeting €500 million ($581 million) in equity commitments, 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.
CMNRE III succeeds Ca
