Definition of capital under management

Capital under management will refer to funds' remaining investment capacity and capital already invested at acquisition cost. The figure excludes capital from which the funds have already exited. Capital under CapMan’s management is allocated in private equity funds that invest in portfolio companies and real estate funds.The capital in funds making investments in portfolio companies is further divided into equity funds and mezzanine funds. 

 

The capital under management increases with new funds raised and declines through exits. Return expectations are directed to the capital under management both in the form of management fees and any possible carried interest.

 

The terms funds under management or original capital of a fund are used to refer to the original size of a fund, including capital from which the fund has already exited. The tables below set out the development of capital under management and of funds under management in euro terms 2003 to 2012.

 

Capital under management has grown between 2003 and 2013 by an average 15.0% a year.

 

Capital and funds under management 2003 - 2013, MEUR

 

 

Capital under
management


Growth, %

Funds under
  
management


Growth, %

31 Dec 2013   3,098.3  -0.9%  4,950.1  5.8%

31 Dec 2012 

 3,126.7

2.0%

 4,678.6

3.5%

31 Dec 2011

 3,065.0

 -5.1%

 4,521.5

 0.6%

31 Dec 2010

3,231.1

-1.6%

4,493.8

2.4%

31 Dec 2009

3,285.0

4.5%

4,389.1

3.2%

31 Dec 2008

3,143.1

81.7%

4,252.4

41.0%

31 Dec 2007

1,730.1

-3.5%

3,016.7

18.6%

31 Dec 2006

1,793.5

7.6%

2,544.4

17.1%

31 Dec 2005

1,666.5

58.5%

2,173.4

70.6%

31 Dec 2004

1,051.4

7.3%

1,274.1

10.5%

31 Dec 2003

980.1

 

1,153.0