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Finnish asset manager to appoint new CEO

Finnish asset manager Capman, which has invested well over DKK 1 billion in Danish properties, is getting a new CEO.

In the near future, a new face will be in charge of Finnish asset manager Capman, which has invested well over DKK 1 billion (EUR 134.3 million) in Danish properties.

After just about four years as CEO, Heikki Westerlund has quit his position at Capman to try something else, the company writes in a press release.

Since Westerlund took office in August 2013, the Capman's market value has tripled, the company writes. Chairman of the board of directors, Andreas Tallberg, thanks Hallberg for his work, and states that efforts to find a new CEO have begun.

Westerlund will stay with Capman until a successor has been found. The company has invested around DKK 1 billion in the Danish property market through its own Nordic property fund, while it is expected that another DKK 780 million will be allocated to a new Nordic fund for more Danish investments.

Towards the end of 2016, Capman paid a three-digit million amount in DKK for a building located north of Copenhagen, with 33 luxury apartments and 11 commercial tenancies. Last week it was announced that the company has made a deal with project developer Casa to invest in a project with 86 condos in Nordhavn in Copenhagen. In addition to Capman's own Nordic property fund, the Finnish asset manager invests in Denmark on behalf of German pension giant Bayerische Versorgungskammer (BVK).

English Edit: Marie Honoré

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