Brunswick Real Estate raises initial SEK2.6bn for Nordic debt fund
Brunswick Real Estate has raised an initial SEK2.6bn (€267m) for its second Nordic real estate debt fund.
Norway’s largest life insurer, Kommunal Landspensjonskasse (KLP), and Swedish PRI Pensionsgaranti were among investors in the fund, Brunswick said.
Swedish insurance and pension savings company Folksam also backed the fund.
Louise Richnau, chief executive and partner at Brunswick, said: “Demand for Nordic real estate remains high, and, with macro issues such as the Brexit vote and the US elections creating uncertainty in other markets, we believe investors will continue to be attracted to safe havens like the Nordics.”
Richnau said lending remained restrictive from traditional sources of capital.
The fund is lending mainly in Sweden and providing loans of SEK200m to SEK600m on terms up to 10 years.