The Ashurst investment funds team advised CapMan Real Estate on the establishment of its second pan-Nordic value-add fund, the CapMan Nordic Real Estate II Fund (CMNRE II).
The fund was oversubscribed and closed at its hard cap of €425 million with commitments from new and existing Nordic, European and US institutional investors. With leverage, CMNRE II has an investment capacity of over €1 billion to be invested primarily across the office and residential sectors in the Nordic region.
Nick Goddard, investment funds partner, led an international Ashurst team, which involved specialist lawyers from Ashurst's London, New York and Washington offices. The team included partners Paul Miller (tax), Isabelle Lentz (Luxembourg), Margaret Sheehan (regulatory/securities law), Tae Jeon (finance/ERISA), counsels Sharon Kim and Alastair Ladkin (tax), and senior associate Marianna Tothova (funds).
The Ashurst investment funds team also advised CapMan Real Estate on the establishment of their first generation pan-Nordic value-add fund, the CapMan Nordic Real Estate Fund and has a long-standing relationship with CapMan.
Nick Goddard commented: "It was great to team up with CapMan again on such a successful fund-raising. CapMan had considerable support from its existing investor-base and there was strong demand from new investors too which enabled CapMan to close the fund at its hard cap within two months of its launch."
