Investment focus and strategy
CapMan Public Market invests in listed Nordic small and mid cap companies. Through substantial minority investments we obtain genuine governance positions in companies where we identify significant value potential. Our aim is to develop the companies through active ownership in co-operation with other owners and the board.
CapMan Public Market manages a highly focused portfolio with a maximum of 5-6 substantial minority positions. Our investment horizon stretches over 3–5 years and the fund is structured to ensure access to additional capital if needed for intermediate equity infusions into portfolio companies.
Co-operation and alignment with other shareholders is essential in the selection of investment targets, and we actively avoid situations where differing views on strategy would hinder or slow down the implementation of important value creation initiatives. Based on our due diligence and subsequent information collected during the analysis phase, we develop a detailed value creation plan for each portfolio company with objectives for the coming 3–5 years. A dedicated case team is maintained during the whole holding period, providing continuous support to the chairman and CEO as speaking partners. If requested, CapMan Public Market can also assist the portfolio company in execution of prioritized activities, using the team’s internal and external resources and CapMan advisors.
What do we look for?
- Nordic publicly listed companies, with a €100–700 million market capitalization
- Undervalued situations
- Companies with proven business model and realistic potential for long-term value creation through growth, profitability and capital efficiency improvements
- Situations where a substantial minority investment can give us a genuine governance position
- Investments with a typical lifetime of 3–5 years
- CapMan’s long-term experience in creating value
CapMan Public Market
- Public market investments since 2009
- Six investments to date, out of which 3 exited