CapMan adds €470m in AUM in Q3 2020

The figure is up 15% compared to the end of Q2 2020, which, the GP said, was mainly due to the establishment of and commitments to CapMan Nordic Real Estate III and CapMan Growth II funds, and the expansion of the real estate mandate. CapMan's total capital under management stands at €3.57bn. 

The PE firm's second growth fund, which held a first close on €76m in July, has exceeded its target of €85m, having raised €88m so far. CapMan Nordic Real Estate III held a first close on €313m; the fund's target size is €500m.

The GP reported that the fair value of investments for the three quarters of 2020 was down by €2.6m. The GP said valuations recovered in the second and third quarter of the year, following the sharp decline in the beginning of the year brought on mainly by the global Covid-19 crisis.

Thr GP generated a group turnover of €30m between 1 January and 30 September, a 9% drop compared to the same period last year. Its operating profit for the first three quarters of 2020 was €2.6m, an 84% drop on the €16m figure for the comparable period last year.

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