Lawyer to take reins at CapMan

Heikki Westerlund, Capman CEO since 2005, will next month make way for Lennart Simonsen, a former M&A lawyer.

Lennart Simonsen, a former M&A lawyer and managing partner of law firm Roschier, is to be the new chief executive officer of Finnish investment firm CapMan. Current boss Heikki Westerlund will move up to chair the company’s board.


Westerlund, 44, has been at CapMan’s helm since 2005. Prior to becoming chief executive, he headed CapMan’s buyout group for three years. He joined the firm in 1994 and spent the early part of his career building up CapMan’s technology investment operations. Prior to CapMan he worked for the Finnish Innovation Fund, Sitra.

Simonsen will assume the CEO role on 1 June.

As managing partner at Roschier – a Northern European law firm employing 270 people – Lennart Simonsen created a partnership network in the Baltic countries and established a 70-strong office in Stockholm. As a lawyer, Simonsen has advised on M&A activity involving private equity investors since 1993.

“I hope that my some 10 years of experience in heading up an expert organisation as managing partner will provide a strong foundation for my work at CapMan,” said Simonsen in a statement.


CapMan manages around €3.6 billion in capital divided between CapMan Private Equity and CapMan Real Estate. The firm invests in the Nordic region and since 2008 – when it bought Moscow-based private equity firm Norum – has had a presence in Russia.

Last year the firm also grew its ties with Benelux-based mid-market firm Gimv. The Belgian firm acquired three ‘early secondary’ interests in CapMan funds, made one primary commitment and set about building a 10 percent stake in the CapMan management company.