CAPMAN AB

CEO Joakim Karlsson oversees the firm's overall strategy, while each asset class is led by a dedicated partner: private equity, private credit, real estate, and infrastructure have separate investment committees. The firm describes itself as a partnership despite the public listing, with decision-making distributed among senior partners (per Capman, 2026).

Capman is a publicly listed asset manager, not a family office. Its shares trade on Nasdaq Stockholm, and it reports earnings quarterly. However, it originated as a private partnership founded in 1989 and retains a culture where a group of partners hold significant ownership and control over investment decisions (per Capman public filings).

Capman relies on its long-standing local networks in the Nordics and Benelux, with investment teams based in each major market. The firm claims that its regional focus and local language/regulatory knowledge give it access to mid-market transactions that international firms overlook (per Capman, 2024).

Capman's private equity arm targets mid-market buyouts and growth equity, typically leading or co-leading deals with check sizes ranging from €20M to €150M per transaction. Its credit strategy focuses on direct lending to similar-sized companies, while real estate and infrastructure are value-add and opportunistic across the same regions (per Capman, 2026).

Yes, Capman raises capital from Nordic and international institutional investors, including pension funds, insurance companies, and endowments. Its funds are structured as closed-end vehicles with typical 10-year terms. Capman also co-invests alongside its funds in certain transactions, aligning manager and limited partner interests (per Capman, 2026).

Capman generally acts as lead or co-lead investor in its own deals rather than following other GPs. However, it has a track record of co-investing with Nordic pension funds and family offices on specific transactions, particularly in infrastructure and real estate, where it partners for sector expertise or additional capital (per Capman, 2025).

Capman is an independent, publicly listed company with no ownership ties to a bank, insurance group, or single family. Its largest shareholders are institutional investors such as Swedish pension funds and asset managers. It was founded by a group of partners and remains controlled by its partnership group rather than an outside entity (per Capman annual report, 2025).