Swedish property manager Profi Fastigheter said it has changed its name to Revelop to reflect the company’s focus on sustainability and has raised SEK2.1bn (€206.9m) for its fifth value-add fund.

The company said the Revelop V fund, which received capital commitments from Swedish and international investors at its final close, is the property company’s largest to date and the largest Swedish value-add real estate fund in seven years.

Thomas Sipos, CEO of Revelop, said: “With our new name, we want to clarify our investment philosophy and the strategy to invest in real estate that we can reposition in a sustainable way. Thereby we can make a positive impact and contribute to a new, more sustainable society.”

Anders Sylvén, Revelop’s CFO and VP, said: “Revelop alludes to the motto of extending the life of buildings, creating attractive places and focusing on efficient use of resources by adopting a circular approach.

“We think differently and invest in the existing urban environment next to existing infrastructure where we see opportunities for positive change through refinement and densification.” 

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