CapMan finalizes CAERUS acquisition, launches real asset debt division
CapMan Plc has officially completed the acquisition of a 51% stake in CAERUS Debt Investments AG, initiating a strategic partnership that establishes a new investment area within CapMan focused on real asset debt. As part of the agreement, CAERUS founder and CEO Michael Morgenroth joins CapMan’s Management Group as Managing Partner of the newly formed CapMan Real Asset Debt division.
CAERUS, a real estate debt investment manager based in Germany, has raised €2.6 billion since its founding in 2014 and currently manages €700 million across seven active funds. The firm’s team of 12 professionals specialises in structured real estate debt financing across the DACH and Benelux regions.
The transaction strengthens CapMan’s capabilities in real asset investments and broadens its reach in continental Europe. The new real asset debt platform complements CapMan’s existing investment areas in real estate, infrastructure, and natural capital, supporting the company’s long-term strategic objective to grow its assets under management to €10 billion.
CAERUS is expected to benefit from CapMan’s established platform in the Nordic markets, as well as from expanded asset management capacity, sustainability expertise, and operational infrastructure. CapMan’s balance sheet commitments will also support future fundraising initiatives for CAERUS-managed funds.
Commenting on the transaction, CapMan CEO Pia Kåll said the move is a logical extension of the company’s investment offering. She highlighted the alignment between the two firms in terms of expertise and entrepreneurial culture.
Michael Morgenroth noted that the partnership comes at a time of both challenges and opportunity in the real estate debt market. The CAERUS brand will now feature the tagline “by CapMan” to reflect the new ownership structure and integration. He added that the collaboration positions both firms to better support clients and navigate current market conditions.
Photo: Michael Morgenroth
