Nordic investment manager Niam has raised €800m ($870m) for its latest opportunity fund.

The Stockholm-based private equity firm completed the final close for its sixth opportunistic property fund, Niam Nordic VI.

Public and corporate pension funds, sovereign wealth funds, endowments and family offices backed the vehicle.

Niam said insurance companies, funds of funds and financial institutions also committed capital.

Johan Bergman, chief executive at Niam, said: “We originally had a hard cap at €750m but increased it to €800m so that a few more of our existing investors would be able to participate.

“Even though the demand for Niam VI was high, we wanted to make sure we would have a fund that is an appropriate size for the current market environment in the Nordics.”

The fund will target office, retail and residential property investments and be invested through Niam’s offices in Stockholm, Oslo, Helsinki and Copenhagen.

The New York State Common Retirement Fund invested $100m in the fund late last year

The commitment to Nordic VI was New York Common’s first investment with Niam.