CapMan Real Estate grows its Nordic residential mandate for BVK to €820 million as it completes a significant off-market portfolio transaction
CapMan Real Estate has completed the acquisition of a residential portfolio from the Finnish fund manager ICECAPITAL and its local investors for a fund on the account of Bayerische Versorgungskammer (BVK), Germany’s largest public pension fund group.
The acquisition of ICECAPITAL Housing Fund III portfolio comprises 37 residential assets and 1,740 apartments with a combined area of some 100,000 sqm. The apartments are located mostly in the Helsinki Metropolitan Area. The off-market transaction was sourced by CapMan.
Following the acquisition, the investment volume of CapMan’s mandate from BVK increases to approximately €820 million, invested mostly in Helsinki Metropolitan Area, Copenhagen and Aarhus.
CapMan will continue to advise the fund on sourcing and managing transactions in the Nordics. The timing and size of additional commitments will be subject to the availability of suitable investment opportunities.
“We’re very pleased to add this high-quality portfolio to the BVK fund and continue to see increasing interest from international investors for Nordic residential properties,” comments Sampsa Apajalahti, Investment Director at CapMan Real Estate.
“The growth of the mandate is an excellent example of the confidence that international institutions have in CapMan’s local expertise. Investment mandates are part of CapMan’s strategy for servicing a broader customer base through our platform of local investment experts,” says Joakim Frimodig, CapMan’s CEO.
The mandate advised by CapMan is a real estate fund held on the platform of Universal-Investment. CapMan receives long-term advisory and performance fees from the mandate in accordance with standard industry practices.
For further information, please contact:
Sampsa Apajalahti, Investment Director, CapMan Real Estate, tel. +358 40 575 2363
Mika Matikainen, Managing Partner, CapMan Real Estate, tel. +358 40 519 0707
Joakim Frimodig, CEO, CapMan Plc, tel. +358 50 529 0665
About CapMan and CapMan Real Estate
CapMan Real Estate’s team consists of over 30 professionals based in Helsinki, Stockholm and Copenhagen. CapMan Real Estate was established in 2005 and has over €1.9 billion of assets under management deployed across four different investment strategies.
CapMan is a leading Nordic private asset manager with an active approach to value-creation. CapMan employs over 120 private equity professionals and has €3 billion of assets under management. Our current investment strategies cover private equity, real estate, infrastructure and credit. We also have a growing service business that includes procurement services, fundraising, and fund management services. www.capman.com
With fund assets of around EUR 409 billion under administration, thereof EUR 321 billion in own vehicles and around EUR 88 billion in, inter alia, insourcing, well over 1,200 mutual and special investment mandates and a workforce of around 650, Universal-Investment is the largest independent investment company in the German-speaking region. With its three key service areas Administration, Insourcing and Risk Management, the company’s lies on the efficient and risk-orientated management of funds, securities, alternative investments and real estate. The investment company is the central platform for independent asset management and unifies the investment know-how of portfolio managers, private banks, asset managers and investment boutiques. Founded in 1968, the Universal-Investment group is headquartered in Frankfurt/Main and has subsidiaries and holdings in Luxemburg and Austria. It is one of the pioneers of the investment industry and has meanwhile become the market leader in the areas of master-KVG and private label funds. According to the 2018 PwC ManCo Survey, Universal-Investment is the largest AIFM ManCo in Luxembourg; among the Third-Party-ManCos, Universal-Investment also ranks in first place (as of 30 November 2018).
More information available at: www.universal-investment.com
About Bayerische Versorgungskammer
Bayerische Versorgungskammer is the competence and service center for occupational and communal pension schemes and Germany´s largest pension scheme group under public law. As a public authority of the Bavarian Ministry of the Interior, it is the joint executive body of twelve liberal professions´ and communal pension schemes. Bayerische Versorgungskammer covers about 2.2 million insured persons in total, with contributions of €4.6 billion and €3.3 billion pension payments annually. It currently has €72 billion assets under management and 1,270 employees. www.versorgungskammer.de