Nordic private equity fund manager Capman has signed a letter of intent to divest its real estate consulting business. Capman manages four private equity real estate funds and carries out real estate consulting through its Realprojekti subsidiary.

Under the letter of intent, Realprojekti's construction management, shopping centre management, and commercial consulting activities will be transferred to a new company that will be owned by Markku Hietala, Matti Karlsson and Vesa Olkkola. Hietala and Karlsson are currently employed by Realprojekti.

The intention is to transfer a total of 21 people employed in the consulting business to the new company under their existing terms and conditions of employment. The intention is that the new consulting company will continue to use the name Realprojekti.

Following the divestment, Capman Real Estate, led by partner Mika Matikainen, will concentrate on managing Capman's private equity real estate funds. Capman Real Estate and the new company will continue to work together.

Helsinki-listed Capman operates in the Nordic countries and Russia, and has EUR 3.5 bn in capital under management.