P&E Capital is the investment office for the Piilmann family. Our primary goal is to preserve and grow our capital base over the long term. We typically seek direct investments in sectors with deep underlying asset value. For diversification purposes, we also engage in a broad range of other investment activities across various asset classes and geographies.

P&E Capital on Piilmannide pere investeerimisbüroo. Meie peamiseks eesmärgiks on säilitada ja kasvatada om a kapitalibaasi pikas perspektiivis. Peamiselt otsime otseinvesteeringuid sektoritesse, millel on suur alusvara väärtus.

P&E Capital

Investments

Real Estate

P&E Capital manages a portfolio of 100 000 m2 prime office and retail space with substantial long-term development potential. We often partner with like-minded co-investors and seek to take on projects with significant scale, development potential and complexity.

 

Iconic retail centre situated in central Tallinn with Stockmann department store and Medicum medical centre as anchor tenants.

  • Investment year: 2021
  • GLA: 25 000 m2
  • P&E Capital interest: 39%

 

Telliskivi TLN is a multipurpose business, leisure and cultural centre located next to the Tallinn central train station between Kalamaja district and Old Town.

  • Investment year: 2002
  • GLA: 25 000 m2
  • P&E Capital interest: 65%

 

Retail and leisure centre located next to Riga's Rail Baltica terminal, central market and bus station with Stockmann department store and Forum Cinemas as anchor tenants.

  • Investment year: 2022
  • GLA: 25 000 m2
  • P&E Capital interest: 39%

Roosikrantsi

 

Iconic office building situated at the Tallinn Freedom Square with Tallinn City as anchor tenant.

  • Investment year: 2001
  • GLA: 25 000 m2
  • P&E Capital interest: 39%

 

Strategically located at the intersection of two of Tallinn's major roads, Pärnu maantee and Järvevana tee, the office building boasts convenient parking and counts Töötukassa, Catwees and Swedbank as anchor tenants.

  • Investment year: 2011
  • GLA: 11 400 m2
  • P&E Capital interest: 65%

toosikannu

 

Toosikannu combines a truly unique wildlife park spanning over ca. 1,000 hectares of pristine forest with a state-of-the-art holiday and conference resort.

Energy & Industrials

Our heritage includes a long track record of investing in energy and industrial assets ranging from fuel distribution, energy infrastructure, oil shale mining and refining to building integrated solar roofs. Today, we continue investing into industrial and energy assets, mainly through our portfolio company Viru Keemia Grupp.

 

We hold a 39% interest in VKG, one of the leading industrial and energy groups in Estonia. VKG employs 1500 people and was founded in 1924.

 

Cleantech business focused on developing and distributing building-integrated solar roofs.

Other Investments

Selectively, we also seek equity investments in a range of other areas with favourable long-term sector dynamics.

 

P&E Capital worked closely with and backed Edgecap Partners' acquisition of a majority stake in Comac Medical, a leading full service clinical research organisation in Southeast Europe. Edgecap Partners is Tallinn- and London-based mid-market private equity and growth capital firm targeting investments into high-quality companies in Europe.

 

Founded in 2022, Padelstar is one of the leading padel operators in the Baltic countries.

Our people

Kristjan Piilmann

Kristjan Piilmann

Kristjan looks after our investment strategy and capital

Kersti Ojala

Kersti Ojala

Kersti manages the daily activities of P&E Foundation

Eve Piilmann

Eve Piilmann

Eve preserves our culture and governs P&E Foundation

Alo Kippasto

Alo Kippasto

Alo looks after our real estate projects and property management

Priit Seeman

Priit Seeman

Priit is responsible for many of our investments as well as the finance function

Tuuliki Tammearu

Tuuliki Tammearu

Tuuliki looks after our people

P&E Foundation

Family office’s philantrophy fund focuses on supporting healthcare and and in an eco-friendly way. Occasionally, we may also contribute to other areas with positive impact on the Estonian community.

 

We provide large scale grants to support with the missing capital of investment costs. If necessary, we involve experts and support with contacts from our network.

 

For inquiries and project recommendations, please contact
Kersti Ojala

Portfolio

In fall 2023 we signed our first large scale grant agreement with a non-profit organization that operates in field on medicine and healthcare. More details shall be announced in the beginning of 2024.

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