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HELSINKI, FINLAND-Capman, an asset manager here, closed late last week on a $1.2 billion investment fund for Capman Hotels RE. The fund will invest in both current hotel properties and new hotel developments throughout Sweden and Finland.

“The fundraising market has changed considerably since the establishment of the hotel fund. We are pleased with the final closing of the hotel fund in this situation,” says senior partner Jerome Bouix, head of Investor Services.

The year-old fund, which opened in January 2008, started building its portfolio with the purchase of 39 hotels. Executives plan to continue investing the fund over the next two and a half years.

CapMan’s portfolio totals $4.79 billion, with assets located throughout the Nordic countries and Russia.

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