The commercial property management industry in the Nordics focuses on administering real estate assets to optimize value and maintain profitability. This sector includes property management firms, real estate investment trusts (REITs), and service providers that offer maintenance, leasing, and consultation services. With sustainability trends and technological advancements, companies in this space are increasingly adopting green practices and digital tools to enhance operational efficiency. Additionally, there's growing interest in urban developments and mixed-use properties, reflecting the changing demands of both residents and businesses. This transformation presents ample opportunities for new investments and innovative solutions.


The Nordic investors listed vary in type, from private equity firms like EQT Group to corporate giants like Schibsted. With headquarters spread across major cities like Stockholm, Oslo, and Helsinki, these investors range in size from 10 to over 10,000 employees. Established between 1820 and 2016, these organizations collectively made 70 investments in 2024, signaling a robust activity in the commercial property management sector. This mix of investment strategies and organizational structures reflects a dynamic environment ripe for growth and collaboration.


Top 14 Commercial Property Management Investors in the Nordics


1. EQT Group

  • Website: eqtgroup.com
  • Type: Private Equity
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1994
  • Headcount: 1001-5000
  • Number of deals in 2024: 30
  • LinkedIn: eqt-partners

EQT Group is a private equity investment firm based in Stockholm, Sweden, founded in 1994. The firm specializes in a variety of investment strategies, including private equity, infrastructure, real estate, growth equity, and venture capital. EQT serves institutional investors by providing expertise in managing diverse investment portfolios across multiple sectors and geographies. Notably, EQT has made significant investments in the real estate sector, including the acquisition of Apleona, a leading property management company, in January 2016. Additionally, EQT's acquisition of idealista, a prominent online real estate classifieds platform, and Casa.it further demonstrates its commitment to the real estate market. These transactions highlight EQT's strategic focus on enhancing its presence in the commercial property management industry, making it a relevant investor in this field.


2. PHM Group

  • Website: phmgroup.com
  • Type: Corporate
  • Headquarters: Helsinki, Uusimaa, Finland
  • Founded year: 1989
  • Headcount: 5001-10000
  • Number of deals in 2024: 2
  • LinkedIn: phm-group

PHM Group, founded in 1989 and based in Helsinki, Uusimaa, Finland, is a corporate investor specializing in property maintenance services. The company operates across multiple countries, providing essential maintenance and cleaning services to housing companies and businesses. In recent years, PHM Group has made significant strides in expanding its market presence through strategic acquisitions. Notable transactions include the acquisition of Flow Fastighetsvärden AB in July 2021, which enhanced their digitalization efforts and property management capabilities. Additionally, their acquisition of Kotikatu, a leading residential property maintenance provider in Finland, is part of their strategy to strengthen their position in the Nordic market. Other acquisitions, such as BJØRNSHOLM in Denmark and Flensburger Objektservice GmbH in Germany, further illustrate their commitment to enhancing service offerings and achieving local market leadership in property maintenance and management.


3. Schibsted

  • Website: schibsted.com
  • Type: Corporate
  • Headquarters: Oslo, Oslo, Norway
  • Founded year: 1839
  • Headcount: 5001-10000
  • Number of deals in 2024: 3
  • LinkedIn: schibsted-asa

Schibsted Media Group, founded in 1839 and based in Oslo, Norway, is a corporate investor primarily known for its operations in the digital marketplace sector. The company has transitioned from traditional publishing to focus on empowering users through digital services, particularly in classified ads and second-hand goods. In recent years, Schibsted has made significant strides in the real estate market, acquiring companies such as HomeQ Technologies AB, which specializes in first-hand rental apartments, and Habitaclia.com, a leading real estate portal in Spain. These acquisitions reflect Schibsted's commitment to enhancing its real estate marketplace and leveraging growth opportunities in the commercial property management sector. Additionally, the acquisition of Oikotie, an online classifieds business in Finland, further strengthens its position in the real estate market, showcasing its strategic focus on expanding its digital real estate services.


4. Altor Equity Partners

  • Website: altor.com
  • Type: Private Equity
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 2003
  • Headcount: 51-200
  • Number of deals in 2024: 6
  • LinkedIn: altor

Altor Equity Partners is a private equity investment management firm based in Stockholm, Sweden, founded in 2003. The firm specializes in providing consulting services across various sectors, including technology and consumer products, with a strong emphasis on operational efficiency and sustainable growth. Notably, Altor has made significant investments in the commercial property management sector, including the acquisition of Realia Group Oy, the largest service provider in real estate management and brokerage services in the Nordic countries, in 2016. This strategic move highlights Altor's commitment to enhancing its portfolio in the real estate management space. Additionally, Altor has engaged in various other transactions across different industries, showcasing its diverse investment strategy while maintaining a focus on sectors that can benefit from operational improvements and digital transformation.


5. Visma

  • Website: visma.com
  • Type: Corporate
  • Headquarters: Oslo, Oslo, Norway
  • Founded year: 1996
  • Headcount: 10001+
  • Number of deals in 2024: 16
  • LinkedIn: visma

Visma is a corporate investor based in Oslo, Norway, founded in 1996. It specializes in providing cloud-based accounting, payroll, invoicing, and HR solutions, primarily serving small and medium businesses as well as public sector organizations. Visma operates through a network of entrepreneurial companies across Europe and Latin America, contributing to its innovative software offerings. Notably, Visma has made strategic acquisitions to expand its capabilities in the commercial property management sector, including the acquisition of Agenteq Solutions Oy, which develops the Tampuuri property management software. This acquisition, announced on June 27, 2018, aimed to enhance Visma's offerings in real estate management software. Additionally, Visma has been active in acquiring other software companies, further solidifying its position in various software markets.


6. VNV Global AB

  • Website: vnv.global
  • Type: Venture Capital
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1996
  • Headcount: 1-10
  • Number of deals in 2024: 1
  • LinkedIn: vostok-new-ventures-ltd

VNV Global AB is a Stockholm-based investment firm founded in 1996, specializing in venture capital. The firm focuses on providing capital and expertise to innovative companies across various sectors, including Mobility and Digital Health. VNV Global aims to support mission-driven entrepreneurs in developing scalable and sustainable business models, emphasizing long-term profitability and strong market positions. Notably, VNV Global has participated in significant transactions within the real estate sector, such as Shwe Property, Myanmar’s leading property portal, which raised $3 million in Series B funding, and HousingAnywhere, which raised €24 million in Series C funding. These investments highlight VNV Global's engagement in the commercial property management context, as they support platforms that facilitate property management and listings.


7. Kone

  • Website: kone.com
  • Type: Corporate
  • Headquarters: Espoo, Uusimaa, Finland
  • Founded year: 1910
  • Headcount: 10001+
  • Number of deals in 2024: 1
  • LinkedIn: kone

KONE Corporation is a leading manufacturer in the elevator and escalator industry, founded in 1910 and headquartered in Espoo, Uusimaa, Finland. With over 10,000 employees, KONE specializes in providing innovative solutions for vertical transportation, including elevators, escalators, and automatic doors, along with maintenance and modernization services. KONE serves businesses and organizations in the construction and real estate sectors, helping them manage people flow in urban environments. The company has made several strategic acquisitions to enhance its market position, including the acquisition of Excel Elevator in 2009, City Elevator Company in 2016, and a majority stake in Citylift SA in the same year. Additionally, KONE acquired Express Elevators Ltd. in 2015 and Janzhoff Aufzüge GmbH in 2015, further solidifying its presence in the elevator and escalator market, which is integral to commercial property management.


8. Norvestor

  • Website: norvestor.com
  • Type: Private Equity
  • Headquarters: Oslo, Oslo, Norway
  • Founded year: 1989
  • Headcount: 11-50
  • Number of deals in 2024: 3
  • LinkedIn: norvestor-equity-as

Norvestor is a private equity firm based in Oslo, Norway, founded in 1989. The firm specializes in investment management and advisory services, focusing on partnering with medium-sized Nordic businesses to support their growth and development. Norvestor emphasizes sustainability in its investments and has a diverse portfolio that includes various sectors such as IT services and property maintenance. Notably, Norvestor has acquired a majority stake in PHM Group, a leading property maintenance service provider in Finland, which is expected to enhance PHM's growth in the Nordic residential property maintenance sector. Additionally, PHM Group has signed an agreement to acquire Kotikatu, further solidifying their position in the property maintenance market. These transactions highlight Norvestor's commitment to the property management industry, particularly in the context of residential services, which complements their broader investment strategy.


9. Handelsbanken i Sverige


Svenska Handelsbanken AB, founded in 1871 and based in Stockholm, Sweden, is a prominent corporate bank that provides a comprehensive array of financial services, including loans, savings accounts, investment funds, and financial advice tailored for both individual consumers and businesses. The bank emphasizes personal service and strong customer relationships through its extensive branch network. In recent years, Handelsbanken has been actively involved in the commercial property sector, participating in significant transactions such as the Post-IPO equity raises for Stendorren Fastigheter, which raised approximately $47.7 million in October 2024, and Swedish Logistic Property, which raised around $53.1 million in November 2023. These investments highlight Handelsbanken's commitment to supporting the commercial property management industry, making them a relevant player in this sector.


10. CapMan

  • Website: capman.com
  • Type: Private Equity
  • Headquarters: Helsinki, Uusimaa, Finland
  • Founded year: 1989
  • Headcount: 51-200
  • Number of deals in 2024: 4
  • LinkedIn: capman

CapMan Oyj is an investment management firm founded in 1989, based in Helsinki, Uusimaa, Finland. The firm specializes in private equity, real estate, infrastructure, and natural capital investments, serving institutional investors with diverse strategies aimed at sustainable returns. Notably, CapMan has made significant strides in the commercial property sector, exemplified by their recent acquisition of Midstar Fastigheter AB, a Nordic hotel real estate portfolio consisting of 28 assets for EUR 0.4 billion. This acquisition not only strengthens CapMan's foothold in the hotel investment market but also contributes to their goal of increasing assets under management to EUR 10 billion. Additionally, their involvement in various other sectors, such as renovations through KotiSun, showcases their broad investment strategy, although the primary focus on real estate positions them well within the commercial property management context.


11. Kinnevik

  • Website: kinnevik.com
  • Type: Venture Capital
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1936
  • Headcount: 11-50
  • Number of deals in 2024: 10
  • LinkedIn: investment-ab-kinnevik

Kinnevik is an investment company based in Stockholm, Sweden, founded in 1936. The firm partners with innovative entrepreneurs across various sectors, including healthcare, software, marketplaces, and climate tech, providing both capital and operational support to help these companies scale and create long-term value. Notably, Kinnevik has made significant investments in the commercial property management context, such as in Mews, a company that raised substantial funding to enhance its hotel technology platform and expand its geographical reach. Mews has raised over $185 million in funding rounds led by Kinnevik, indicating a strong commitment to the hospitality sector. Additionally, Kinnevik's investment in Common Living, which focuses on providing innovative living solutions, further demonstrates their engagement in the property management space. These transactions highlight Kinnevik's strategic interest in redefining industries and addressing global challenges through investments in property management-related companies.


12. Länsförsäkringar Göteborg och Bohuslän


Länsförsäkringar Göteborg och Bohuslän is a corporate investor based in Gothenburg, Västra Götaland, Sweden, founded in 1845. As an insurance and banking company, they offer a variety of financial products, including car and home insurance, as well as savings plans. While their primary focus is on providing financial protection and security to individual consumers, they have also made notable investments in the commercial property sector. In 2024, they participated in significant post-IPO equity transactions, raising $107,050,345 for Swedish Logistic Property and $47,652,501 for Stendorren Fastigheter. These investments highlight their active role in the commercial property management industry, demonstrating a commitment to diversifying their investment portfolio beyond traditional insurance and banking services.


13. Iss A/s


ISS A/S, founded in 1901 and headquartered in Copenhagen, Denmark, is a leading facility management company with over 10,000 employees. The company specializes in a variety of services that enhance operational efficiency for businesses across multiple sectors, including aviation, banking, and healthcare. In 2024, ISS made significant strides in expanding its capabilities in commercial property management through strategic acquisitions. Notably, they acquired gammaRenax, a provider of integral facility services, which bolsters their offerings in hygiene management and property maintenance. Additionally, their acquisition of PL2 Pluralis Planungsgesellschaft mbH enhances their expertise in construction planning and supervision, particularly in managing large real estate portfolios. These transactions underscore ISS's commitment to providing comprehensive facility management solutions that are integral to the commercial property management industry.


14. Polaris Private Equity


Polaris Private Equity is a private equity firm based in Copenhagen, Denmark, founded in 1998. The firm specializes in investment management, focusing on supporting mid-sized companies in the Nordic region through tailored investment strategies, including private equity, flexible capital, and public equity. Polaris partners with management teams to drive growth and operational improvements, helping these companies realize their full potential. Notably, Polaris has been involved in several acquisitions, including Esoft Systems A/S in 2022, which specializes in digital marketing for the real estate industry, indicating a strategic interest in the real estate sector. Other acquisitions include Dansommer, Vinnergi AB, and Fiskarhedenvillan Group, although these do not directly relate to commercial property management. Overall, Polaris's engagement in the real estate marketing space through Esoft highlights their potential relevance to the commercial property management sector.



Commercial Property Management Insights: Key Investors in the Nordics


InvestorHeadquarterSizeFoundedDeals 2024
EQT GroupStockholm, Stockholm, Sweden1001-5000199430
PHM GroupHelsinki, Uusimaa, Finland5001-1000019892
SchibstedOslo, Oslo, Norway5001-1000018393
Altor Equity PartnersStockholm, Stockholm, Sweden51-20020036
VismaOslo, Oslo, Norway10001+199616
VNV Global ABStockholm, Stockholm, Sweden1-1019961
KoneEspoo, Uusimaa, Finland10001+19101
NorvestorOslo, Oslo, Norway11-5019893
Handelsbanken i SverigeStockholm, Stockholm, Sweden10001+18714
CapManHelsinki, Uusimaa, Finland51-20019894
KinnevikStockholm, Stockholm, Sweden11-50193610
Länsförsäkringar Göteborg och BohuslänGothenburg, Västra Götaland, Sweden201-50018452
Iss A/sCopenhagen, Denmark10001+19013
Polaris Private EquityCopenhagen, Denmark51-20019984


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