CapMan Real Estate completes first close of Nordic Real Estate IV fund

CapMan Real Estate has completed the first close of its fourth value-add fund, CapMan Nordic Real Estate IV (CMNRE IV).

Mikael Rihto

The initial closing attracted support from both existing and new international investors, and the fund is on track to achieve its target commitment size of €750 mln.

CMNRE IV is strategically positioned to leverage opportunities in the current repriced Nordic real estate market, which is underpinned by robust fundamentals such as population growth, urbanisation, and stable economies. Classified as an SFDR Article 8 product, the fund will focus on high-growth real estate sectors across the Nordics. Its primary investment areas will be residential and public sector assets, complemented by selective investments in sectors benefiting from other major structural trends, including hotels and logistics.

The fund has already secured its first seed deal—an attractive residential project in Copenhagen—and is actively pursuing several additional opportunities within its target sectors, ensuring efficient capital deployment. Over the past year alone, CapMan Real Estate has acquired eight large residential projects in the Nordics, demonstrating the team's strong expertise and confidence in this dynamic market segment.

Mikael Rihto, fund director of the CapMan Nordic Real Estate Value-add Fund Series, said: “CapMan Nordic Real Estate IV continues our established Nordic Real Estate value-add fund series and is set to be the largest fund to date. We are coming to market at a genuinely attractive moment as we are seeing a depth of opportunities across the Nordics that gives us real conviction in the strategy. We are confident in continuing to deliver strong performance and material sustainability gains for our investor partners.”