In this ION Influencers Fireside Chat, Giovanni Amodeo sat down with Pia Kåll, CEO of CapMan, to discuss the evolving landscape of Nordic real estate and real asset investments. Here’s an overview of the key insights and topics covered:

1. Pia Kåll’s Journey and Role at CapMan

Pia Kåll shared her career path, including her tenure as CEO of CapMan for the past 18 months. Before taking the helm, she headed CapMan’s private equity operations and has a diverse background spanning mining technology, management consulting, and nuclear physics.

2. CapMan’s Focus on Real Assets

CapMan, a Nordic real asset specialist, manages close to €6 billion in assets, investing across real estate, infrastructure, timberland, and private equity. The company’s strong regional presence in the Nordics and focus on local market expertise make it a trusted partner for European and North American investors.

3. Why Real Assets?

Pia explained the importance of real assets—real estate, infrastructure, timberland, and natural capital—as stable investments that offer diversification. These asset classes have different characteristics, but they share a strong risk-return profile, making them a solid component of any portfolio.

4. Shifting Investor Appetite for Real Assets

Investor interest in real assets has evolved over time. While real estate currently faces headwinds, long-term prospects remain attractive. Infrastructure continues to grow steadily, and timberland is gaining attention due to diverse drivers, including sustainability trends. Each asset class fits differently within various portfolios, allowing investors to capitalize on specific opportunities.

5. CapMan’s Vision for the Future – Looking ahead, Pia emphasized two key areas of focus:

• Talent Development: Ensuring CapMan attracts and retains top talent while preparing for future leadership transitions.
• Meeting Investor Needs: Adapting to evolving investor demands, which may involve expanding into new products or strategies, without losing sight of CapMan’s core strengths.

6. Advice for Future Leaders

When asked about advice for young people starting their careers, Pia encouraged a flexible mindset, emphasizing the importance of continuous learning, problem-solving, and strong people skills. She urged the next generation not to narrow their career paths too early but to stay curious and adaptable.

This fireside chat provided a deep dive into the Nordic real asset market, with Pia Kåll offering valuable insights on investor trends, asset class growth, and the future of CapMan.

Key timestamps:

00:09 Introduction to the ION Influencers Fireside Chats
01:11 Understanding Capman’s Focus on Real Assets
01:44 The Importance of Real Assets in Investment Portfolios
02:18 Trends in Investor Appetite for Real Assets
03:04 Current Investment Opportunities in Real Estate
03:53 Shifts in Infrastructure Investment Strategies
04:46 The Growing Interest in Timberland Investments
06:02 Comparing Nordic Real Estate Trends to Global Markets
10:19 Navigating Market Shocks and Uncertainties
13:36 Deal Origination Strategies in the Nordic Market
15:14 Skill Sets Required in Real Assets vs. Buyout
17:34 Evolving Talent Recruitment in the Industry
19:26 Transparency and Finding Unique Investment Opportunities
20:34 Exploring the CAPMAN Brand Identity
21:39 Advantages of Being a Listed Company
22:36 Unique Business Model of CAPMAN
23:06 Investor Awareness of Nordic Opportunities
24:20 Market Strategies and Investment Trends
25:30 Future Role of a CEO in Investment Firms
26:46 Guidance for Future University Students
28:13 Closing Remarks and Acknowledgments