CapMan fund at final close

CapMan fund at final close

Published: September 29, 2014

Firm raises €99.1mn for fund focused on small and mid-cap Russian companies.

CapMan Russia, a private equity firm that focuses on small and mid-cap Russian companies, has closed its latest fund. The CapMan Russia II fund reached €99.1mn, which is near to the size of its previous Russia-focused fund, the firm said in a stock exchange filing.

“The Ukrainian crisis has obviously had a negative impact on fundraising and many investors have declined or stopped new investments in Russia,” Jerome Bouix, head of business development and investor relations at CapMan, said in the statement. “We are pleased that we got strong support from the majority of our previous fund's investors and that new institutional investors from Europe have joined the fund as well.”

The CapMan Russia II focuses on companies in fast-growing, non-strategic sectors such as consumer goods and services, e-commerce, private healthcare and business services. The fund has already made two investments.