Novo Holdings has become a 25% shareholder in NREP and invested in the Nordic real estate investor’s latest value-add fund.
NREP said Novo Holdings, which has added capital to NREP’s balance sheet, has also invested €125m in the Nordic Strategies Fund IV fund and will also increase its commitment to future NREP real estate funds.
NREP said Novo Holdings becomes a minority shareholder in NREP, which remains majority-owned by its senior partners. Novo made its first investment into one of NREP’s real estate funds in 2018.
Morten Beck Jørgensen, a managing partner for financial investments at Novo Holdings, joins NREP’s board of directors.
Mikkel Bülow-Lehnsby, partner and co-founder of NREP, said: ”Like us, they [Novo Holdings] believe that the best businesses are those that solve problems, and their desire to make a positive contribution to society has been decisive for us, now that we welcome an external, minority shareholder to our family.
“With their backing, we will accelerate our vision to make real estate better and become a world-class investor, benefitting all our stakeholders.”
Jørgensen, said: ”We have worked closely with NREP and we are convinced of the long-term sustainability of the company’s concepts, financially as well as socially and environmentally.
“We also expect to be able to contribute our financial expertise and international networks to support NREP in the next stage of the growth journey.”
Claus Mathisen, NREP’s CEO, said: ”With Novo Holdings’ support, we can now accelerate our investments into capabilities and organisation to deliver on our long-term ambitions.”