Fundraising

CapMan raises €440m for fund VIII

Stockholm-headquartered private equity firm CapMan has corralled €440m of commitments for its eighth buyout vehicle, ahead of its original €375m target.

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Nordic mid-market investor CapMan has held a final closing on its eighth buyout vehicle with €440 million ($554 million) of commitments, exceeding its original target of €375 million.

CapMan Buyout VIII held a first closing on €312 million last November. Jerome Bouix, partner at Helsinki Stock Exchange-listed CapMan, told PEO that there was a second closing of the vehicle with €400 million of commitments in April of this year.

Jerome Bouix, partner, CapMan

A total of 31 institutional investors made allocations to fund VIII, including 15 new investors. CapMan itself invested €37.5 million as part of its 10 percent allocation of the fund’s original target size.

Bouix said that placement agent Atlantic Pacific Capital was tasked with international fundraising.

CapMan Buyout VIII has already made two investments to date. In April, CapMan paid an undisclosed sum for a majority holding in Swedish fashion retail chain MQ. The investment was made through fund VIII, fund VII – which is now fully invested – and the €240 million CapMan Mezzanine IV fund.

Earlier this month, CapMan acquired Tamro MedLab, a Finnish provider of healthcare, laboratory, diagnostics and biotechnical products to the Nordic markets, as well as Estonia, Latvia and Lithuania. The business, which had a reported turnover of €133 million in 2005, was purchased for an undisclosed sum.