Aberdeen Asset Management has received some EUR 115 mln (SEK 970 mln) from institutional investors in the first closing of its new property fund which offers exposure to the Swedish residential property market.
Aberdeen Asset Management has received some EUR 115 mln (SEK 970 mln) from institutional investors in the first closing of its new property fund which offers exposure to the Swedish residential property market.
The Aberdeen Residential Sweden Fund has a conservative investment strategy and is mainly investing in high-quality rental housing in growth areas.
'Housing in Sweden is experiencing strong investor interest and we feel we have managed to fill a gap in the market with this new product for mid-sized institutional investors. It is very gratifying that the first closing was so successful, giving us a good opportunity to finalise interesting transactions in the coming months,' said Göran Bengtsson, head of Investment Management Property in Sweden.
In total as at end-June 2012, Aberdeen has managed property investments of some EUR 3.6 bn in Sweden.
