CapMan Q1: A bit mixed headlines, but fee profit tops our estimate - SEB

CapMan's Q1 performance can be called broadly in line. While the revenue and EBIT were slightly behind our estimate, we note that this owes to carry, which was close to zero. Importantly, the company proves the underlying scale in the fee profit, which increased 48% y/y and came in slightly ahead of our estimate. The first closing of Real Estate IV and Infra III are expected in the coming months and the target size for both funds is set at EUR 750m, which we read as positive.

Länk till analysen i sin helhet: https://research.sebgroup.com/corporate/reports/141662