Financials
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4 May 2012: CEO Lennart Simonsen comments on the events during the review period and CapMan’s prospects: “CapMan’s result during the first quarter was satisfactory, given the challenging operating environment. Our funds’ portfolio companies and properties continued to develop well during the quarter, which had a positive impact on the value of our own holdings. CapMan has a solid base of resources and expertise to develop its portfolio companies and real estate over the long term. In contrast to the slowdown of the European real estate and M&A market in the first quarter, activity in the Nordic real estate market increased during the first three months of the year while M&A activity in the region remained at level with the previous quarter. The Russian economy demonstrated robust development in the beginning of the year while the country’s outlook remains positive. CapMan was recently selected by Private Equity International* as one of the three leading private equity firms in Russia, reflecting our successful track record in the region. Our funds hold several portfolio companies and properties where exit negotiations are in progress. Although it is important to get the funds into carry, our aim is always to sell our holdings at the most attractive valuation, which in turn can affect the timing of individual exits. Fundraising is our major focus area during 2012. We began fundraising for the Buyout X, Nordic Real Estate, and CapMan Russia II funds during the first quarter. CapMan’s strong market position, long-term relationships with investors, good historical returns, and over 20 years of experience in the private equity field support the Group’s successful fundraising efforts. We believe that we will complete the first round of fundraising for all three new funds during 2012.” |
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