Estonian, Latvian, Lithuanian and Finnish members of management have completed the 100% buy-out of the leading Baltic private equity fund manager BaltCap from Evli Group and CapMan. BaltCap will continue to manage Baltic Investment Fund III and Baltic SME Fund together with CapMan and Evli Group, and manage any future funds independently.
“The transaction adds flexibility and motivation to the local teams across the Baltics,” said Managing Partner of BaltCap Mr. Peeter Saks. “It’s a logical step in the private equity and venture capital industry where the majority of the funds are managed by independent and specialised managers.”
“The sale of our ownership in BaltCap is in line with CapMan’s strategy. We are happy to continue the management of Baltic Investment Fund III and Baltic SME Fund with BaltCap’s excellent management,” says Development Director of CapMan, Mr. Petri Saavalainen.
“The decision is part of our new strategy to focus more on our fast-growing core businesses, i.e. corporate finance, asset management and capital markets,” said CEO of Evli Bank Mr. Maunu Lehtimäki. “Naturally, we will continue to co-operate with the region’s best private equity and venture capital fund managers to deliver the best returns to our customers.”
CapMan is one of the leading alternative asset managers in the Nordic countries and manages Nordic funds with approximately €3.0 billion in total capital. CapMan’s operations are divided into two business units, CapMan Private Equity and CapMan Real Estate. The CapMan team comprises approximately 100 people in Helsinki, Stockholm, Copenhagen and Oslo. The B shares of CapMan Plc are listed on Helsinki Stock Exchange since 2001.
Evli Bank Plc is an independent investment bank whose clients are entrepreneurs, corporate executives and investment professionals. Evli was established in 1985, and has ever since been a pioneer and trailblazer in the rapidly developing capital markets. Evli owes its leading position to its strong expertise and experience, and its ability to find new solutions for clients in fluctuating markets.
For additional information please contact:
Mr. Peeter Saks
Tel. +372 640 5702
Mr. Petri Saavalainen, Senior Partner, Development Director, CapMan Plc,
tel. +358 9 6155 8314
Mr. Maunu Lehtimäki
Evli Bank Plc.
Tel +358 9 4766 9304