P&E Capital

P&E Capital is the investment office for the Piilmann family, with the primary goal of preserving and growing its capital base over the long term. It invests across asset classes and geographies, mainly through direct investments in portfolio companies and, for risk and liquidity management, through passive holdings in global asset managers and broad-based ETFs.

Its direct investments cover commercial real estate in Estonia, including Solaris in Tallinn and the Liivalaia 53 department store building, and land in Central Estonia. Principal investments include Clarenta, a UK-based pan-European CRO, and Padelstar, a padel club operator in the Baltic countries with 40+ courts. The office also holds Roofit.Solar, a building-integrated solar roof business, and VKG, an Estonian industrial and energy group employing some 1,500 people. The P&E Foundation, launched in 2022, supports healthcare and education projects in Estonia.

The office was founded in 2002 and is based in Tallinn.

Product: Direct and passive investment management for the Piilmann family across real estate, land, private equity and industrial holdings