CapMan Infra announced the first close of CapMan Nordic Infrastructure III, the third vehicle in its Nordic infrastructure fund series.
The fund held its first close on June 24, 2026, and has a target size of €750 million. CapMan said the fund is on track to reach a final close during 2027, supported by existing and new investors from both within and outside the Nordics.
CapMan Nordic Infrastructure III will invest in lower mid-cap infrastructure businesses and assets across the Nordics. The strategy focuses on energy and utilities, transportation, and digital infrastructure.
The fund is classified as an SFDR Article 8 product and targets infrastructure assets that provide essential services. CapMan said the strategy is designed to benefit from long-term structural trends, including the energy transition, digitalization, and the need for more resilient societies.
With a target size of €750 million, CapMan Nordic Infrastructure III is expected to become CapMan Infra’s largest infrastructure fund to date. The target is also twice the size of its predecessor fund, CapMan Nordic Infrastructure II, which closed at €375 million.
The fund’s first close was supported by more than 20 institutional investors. Around one-third of commitments came from outside the Nordics, and CapMan expects that share to increase significantly in later closings as international investor interest in Nordic infrastructure remains high.
CapMan said around two-thirds of commitments came from German and Finnish pension institutions. Several first close investors have also reserved capacity for additional commitments as fundraising continues.
The fund has a strong pipeline of opportunities across its target sectors and is positioned to make its first investments during 2026.
CapMan is a Nordic private asset manager with €7.2 billion in assets under management. The firm’s investment strategies cover real estate and infrastructure assets, real asset debt, natural capital, and minority and majority investments in portfolio companies.
KEY QUOTE:
“CapMan Nordic Infrastructure III builds on our established Nordic infrastructure fund series. We are pleased by the support from both existing and new investors at the first close and are confident in the Fund’s progress towards a final close at its target size. The Nordic infrastructure market continues to offer attractive opportunities that benefit from structural trends, and the Fund is well positioned to deploy capital during 2026.”
Ville Poukka, Managing Partner at CapMan Infra
