CapMan's history
1989
CapMan Capital Management was founded in 1989. In the following year CapMan established its first private equity fund, Finnventure Fund I. The fund’s size was €11.1 million
1993
In 1993 Ari Tolppanen, Vesa Vanha-Honko, Tuomo Raasio and Olli Liitola made an MBO through their company CapMan Partners and acquired CapMan Capital Management from institutional owners KOP, Pohjola and Programator. Between 1994 and 1999 the senior partner group was enlarged by Peter Buch Lund, Heikki Westerlund and Petri Saavalainen. In addition, nine other key employees were offered shareholdings in the company. CapMan started to substantially grow its private equity business in the mid 1990s. New funds were raised every year as CapMan enlarged its instrument scope from equity to mezzanine, and started to build a technology practice in addition to the initial buyout practice. CapMan invested heavily in new people by recruiting complementing talents. Gradually, CapMan achieved a dominant market share in Finland in private equity and venture capital.
1999
In spring 1999, CapMan joined forces with top French private equity professionals to establish Access Capital Partners, a private equity fund of fund manager based in Paris and Guernsey. The capital managed by Access Capital Partners has grown strongly in past years. CapMan owns 35% of Access Capital Funds’ advisory company and general partner.
2000
In 2000 CapMan and a listed company Vestcap Plc merged, as a result of which CapMan’s B shares have been quoted on the Main List of the Helsinki Stock Exchanges as of 2 April 2001. Upon the listing of CapMan new shareholders comprising some 5,000 private individuals received some 31.5% of CapMan’s shares. In the past few years the the investor base has internationalised, and the share of foreign shareholders has risen to approximately 35% of the company. The ownership of senior partners and other employee shareholders has simultaneously decreased to approximately 35% of the company.
2001
In line with CapMan’s Nordic growth strategy, CapMan expanded its operations to Denmark, Sweden and Norway between 2001 and 2004. In April 2001, CapMan acquired Nordic Private Equity Group, one of Denmark’s most experienced private equity investors. Further, in February 2002 CapMan acquired Swedestart Management AB, one of the leading Swedish venture capital companies within technology and life science. The Nordic growth strategy was finalised in January 2004 when CapMan opened an office in Norway.
2005
In summer 2005 CapMan expanded its business again, this time establishing a €500 million private equity real estate fund CapMan Real Estate I. Following this business expansion CapMan has two business areas, CapMan Private Equity and CapMan Real Estate. The first is focused on managing funds, which invest in mainly Nordic unlisted companies. The latter is focused on managing private equity real estate funds, which make real estate investments.
2008
CapMan has taken this year two major steps forward in its strategy of exploiting growth opportunities in the alternative asset class by expanding our operations to Russia and establishing the Public Market Fund. CapMan today manages €3.2 billion in capital and employs 140 people in Helsinki, Stockholm, Copenhagen, Oslo and Moscow. With a truly Nordic presence, CapMan is one of the leading alternative asset managers in the Nordic countries.