Nordic real estate private equity firm Niam has raised €1.1bn for its seventh opportunistic fund, exceeding its original fundraising target by over 35%.
The manager said Niam Nordic VII, the largest private real estate fund in the Nordics, will target all property types. The predecessor Niam Nordic VI fund raised €800m in 2016.
Niam said the fund was backed by a mixture of public and corporate pension funds, sovereign wealth funds, endowments, foundations, family offices, insurance companies, fund of funds and financial institutions from around the world.
As previously reported, New York State Common Retirement Fund and San Francisco Employees’ Retirement System approved €150m and €75m respectively into the fund.
Fredrik Jonsson, CEO of Niam, said: “We are extremely thankful to our investors who continue to support us and also to the new investors who have chosen us as their Nordic partner.
“We exceeded our target by over 35% and are confident with the opportunities in the Nordic market.”
