Half Year 2023 CapMan Oyj Earnings Presentation Transcript
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Good morning, and welcome to CapMan's results presentation for the first half of 2023. I'm Pia KÃ¥ll, CEO of CapMan. We'll start with the financial development. During the first half, we continued to grow fee income and had a stable performance in a slower market. The market uncertainty has continued. It's driven by continued fears of further increasing interest rates, inflation rates, and also increasing geopolitical tensions in Europe.
Simplified, the effect it has is higher return requirements, decreased valuations, and in some cases, less availability of financing. We see this, especially in the real estate market. It's also impacting private equity and infrastructure. But in the lower mid-market where we are active, we see less of an impact.
Overall transaction market is lower. It takes longer for buyers and sellers to find
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