Group structure and operative organisation
The CapMan Group (the “Group”) is comprised of CapMan Plc and its subsidiaries and associated companies. CapMan has subsidiaries in Finland, Sweden, Norway, Guernsey, Luxembourg, the United Kingdom, and Cyprus. These subsidiaries act as fund management and/or advisory companies for Group’s funds making direct investments in portfolio companies or in real estate assets, or as investment companies. The voting power in all subsidiaries is 28.7-100% owned by CapMan. CapMan’s most significant associated company is Norvestia Plc. All CapMan’s subsidiaries and associated companies are listed in the Notes to the Accounts in the Financial Statements.
The Group has two operating segments: the Management Company business and Fund Investment business. The Management Company business is subdivided into two business areas: CapMan Private Equity, which manages funds that invest in portfolio companies, and CapMan Real Estate, which manages funds that invest in real estate. Investments by CapMan funds investing in portfolio companies focus on two key investment areas in the Nordic countries and on one investment area in Russia. The investment areas are middle market buyouts (CapMan Buyout), investments in mid-sized companies operating in Russia (CapMan Russia) and mezzanine investments (CapMan Credit). The investment focus of CapMan's real estate funds is on real estate properties, principally in Finland, Sweden and Denmark. The Group has nominated teams for each investment area. The investment teams are responsible for identifying new investment opportunities, making investment proposals, supporting the value creation of portfolio companies or real estate assets, and carrying out exit projects. CapMan further classifies Norvestia as a separate investment area, which invests in listed shares both directly and indirectly, credit instruments, private equity and other funds and makes minority investments in unlisted companies. CapMan has in addition three other investment areas (CapMan Public Market, CapMan Technology and CapMan Life Science), which do not make new investments but focus on developing the value of their existing portfolio companies.
The Group has three service teams: (1) Fund Advisory and Purchasing, (2) Finance, Back Office, Legal, Communications & Investor Relations and IT and (3) Human Resources.