6 August 2015:
Heikki Westerlund, CEO, comments on the events of the first half of 2015 and CapMan’s prospects for the rest of the year:
“The first six months of the year progressed mostly according to plan. The fair value development of our investments, including Norvestia, and the timing of ongoing exit processes have a profound impact on the result for the second half of the year.
CapMan became an anchor owner of Norvestia following the acquisition of shares in May. The transaction supports our long term strategy, which is to be an active and versatile private equity player. Norvestia’s expertise in private equity is based on minority investments mainly in Nordic entrepreneurial companies.
The exit from Swedish Silex Microsystems is an excellent example that also funds at the end of their life cycle include companies, which may provide material carried interest to CapMan. In addition, our Nordic Real Estate fund agreed on its first exit, which was an office building north of Stockholm. The CapMan Real Estate team was successful in executing their value added strategy ahead of their original schedule.”
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