The National Pension Service of South Korea (NPS) has taken a minority stake in Nordic real estate manager Areim for an undisclosed sum.

NPS, through a partnership with real assets advisory firm Townsend Group, has acquired the unspecified minority stake in Areim, which will remain an independent real estate manager with its existing team solely responsible for its operations and growth.

Areim’s real estate portfolio spans the Nordic region and includes assets in the light industrial, residential, office, retail and data-centre sectors.

David Kim, head of real estate platform investment team at NPS, said: “We are pleased to establish this strategic partnership with Areim. Their proven strengths and long-term vision align closely with our platform investment strategy, and we are confident that this collaboration will further support Areim’s continued growth as well as NPS’s long-term investment objectives.”

Leif Andersson, founder of Areim, said: “We are delighted to welcome NPS and Townsend as strategic partners. They are ideal partners, and their investment supports our ambition to grow with continued independence and a clear purpose, while remaining closely aligned with our team, fund investors, and other key stakeholders.”

Anthony Frammartino, CEO and chairman of Townsend, said: “We are excited to partner with the team at Areim. It has been a pleasure getting to know the firm better over the course of this transaction and we are excited about what Areim can build over the coming years with the strategic capital and support from NPS and Townsend.”

Henrik Brinck Landelius, CEO of Areim, said: “Areim continues to evolve, and as we do so, we also need to ensure that we have a solid platform to stand on. The partnership with NPS and Townsend will enhance our commitment to attract and retain the best talent in the market and strengthens our position as the preferred manager in our selected markets – driving innovation and excellence in everything we do.”

To read the latest IPE Real Assets magazine click here.

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