CapMan completes first close of new forest fund
Summary
- CapMan's Natural Capital investment area has completed the first closing of its fourth forest fund, CapMan Dasos European Forest Fund IV, with ongoing fundraising aiming to exceed 700 MEUR.
- The company did not disclose the size of the first closing, making it difficult to assess the success of the fundraising at this stage.
- Analysts view the resumption of fundraising positively, as CapMan will have multiple large funds in fundraising next year, crucial for meeting strategic targets.
- Further details on the fundraising progress are expected in the Q4 earnings release.
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Translation: Original published in Finnish on 12/23/2025 at 8:50 am EET.
CapMan announced on Tuesday that its Natural Capital investment area has completed the first closing of its fourth forest fund (CapMan Dasos European Forest Fund IV). Fundraising for the fund is still ongoing, and CapMan aims to raise a larger amount for this fund than its predecessors (>700 MEUR). The news was expected, as the company had already indicated in its Q3 report that the fund's first closing would occur by the end of the year.
However, CapMan did not disclose the size of the first closing, so it is not possible to assess the company's success at this point. We consider it positive that the company's fundraising has picked up again after a rather sluggish period. This is important because CapMan will have several large funds simultaneously fundraising next year, and success in these is critical for achieving the company's strategic period targets. However, we will have to wait for the Q4 earnings release for more detailed information on the progress of fundraising.
CapMan is an investment company. The vision is to be a long-term owner and create added value for the shareholders in the long term. CapMan mainly invests in medium-sized unlisted companies, properties and infrastructure facilities around the Nordic market. Furthermore, the company offers asset management, purchasing activities as well as analysis, reporting and back office services. CapMan was founded in 1989 and its headquarters are in Helsinki, Finland.
Read more on company pageKey Estimate Figures06.11
| 2024 | 25e | 26e | |
|---|---|---|---|
| Revenue | 57.6 | 62.2 | 75.5 |
| growth-% | 16.8 % | 7.9 % | 21.3 % |
| EBIT (adj.) | 17.0 | 29.1 | 40.1 |
| EBIT-% (adj.) | 29.5 % | 46.7 % | 53.2 % |
| EPS (adj.) | 0.03 | 0.11 | 0.15 |
| Dividend | 0.14 | 0.15 | 0.16 |
| Dividend % | 7.9 % | 7.8 % | 8.3 % |
| P/E (adj.) | 56.8 | 18.2 | 12.8 |
| EV/EBITDA | 15.1 | 12.1 | 9.2 |
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