CapMan Acquires Majority Stake in CAERUS to Launch New Focus Area
Deal News | Jun 19, 2025 | Capman Growth
CapMan Plc, a leading Nordic private asset expert, has announced a strategic partnership with CAERUS Debt Investments AG by acquiring a 51% stake in the German company. This move marks the establishment of a new investment area called CapMan Real Asset Debt, designed to complement its existing investments in real estate, infrastructure, and natural capital. CAERUS is recognized as a pioneer in the real estate debt investment field, particularly in the DACH and Benelux regions, with a strong track record of raising EUR 2.6 billion since 2014. The partnership aligns with CapMan's growth strategy to increase their assets under management to EUR 10 billion by expanding existing funds, creating new products, and pursuing targeted acquisitions. The transaction is expected to complete in the third quarter of 2025, with CAERUS CEO Michael Morgenroth joining CapMan's management group as Managing Partner for Real Asset Debt. This acquisition positions CapMan solidly in the German market and strengthens its capacity in real asset debt investments, offering attractive returns and stabilization to its investment portfolio.
Sectors
- Real Estate
- Private Equity
- Infrastructure and Natural Capital
Geography
- Germany – CAERUS is based in Germany, and the acquisition expands CapMan's geographical footprint into the German market.
- Nordic Regions – CapMan is a Nordic company, and the expansion aligns with their strategic objectives of enhancing their presence in key markets.
- Benelux Region – Part of CAERUS's focus market, relevant to their investment strategy and operations.
Industry
- Real Estate – The industry relevant to the article due to the focus on real estate debt investments made by CAERUS and the expansion of CapMan into the real estate debt sector.
- Private Equity – CapMan's business model as a leading Nordic private asset expert with equity investments is central to the acquisition and their strategic objectives.
- Infrastructure and Natural Capital – Part of CapMan's existing investment areas, which they look to complement with the new CapMan Real Asset Debt area.
Financials
- 51% – The percentage of CAERUS's shares acquired by CapMan Plc.
- EUR 2.6 billion – Total capital raised by CAERUS since its inception, showcasing their track record in the industry.
- EUR 6.4 billion – CapMan's existing assets under management before the acquisition, showing their position in the market.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| CapMan Plc | Bidding Company | Company | A leading Nordic private asset expert focusing on real asset investments, acquiring 51% of CAERUS. |
| CAERUS Debt Investments AG | Target Company | Company | A German company specializing in real estate debt investments, with EUR 2.6 billion raised and a focus on the DACH and Benelux regions. |
| Michael Morgenroth | CEO of CAERUS | Person | Founder and CEO of CAERUS, joining CapMan's management group as Managing Partner for Real Asset Debt. |
| Pia Kåll | CEO of CapMan | Person | CEO of CapMan, overseeing the strategic acquisition of CAERUS. |