Aberdeen Asset Management has acquired a commercial portfolio in Finland valued at EUR 280 mln from the Finnish insurance and pension group Ilmarinen. The purchase includes 47 properties spread across the cities of Helsinki, Tampere, Turku, Oulu and Vaasa.
Aberdeen Asset Management has acquired a commercial portfolio in Finland valued at EUR 280 mln from the Finnish insurance and pension group Ilmarinen. The purchase includes 47 properties spread across the cities of Helsinki, Tampere, Turku, Oulu and Vaasa.
The acquisition was the first one made through an Aberdeen's new Finnish fund in which Ilmarinen is investing, together with Dutch pension fund ABP and Denmark's ATP Real Estate.
It is understood that Aberdeen is also entering Germany's institutional market and has recruited the former managing director of the investment consultant FERI Hartmut Leser to head its new office in Frankfurt. An Aberdeen spokesman declined to comment. With EUR 305 bn in institutional assets under advisement, FERI is Germany's market leader, European pension website IPE.com said.
Aberdeen's entry in Germany adds to several others asset managers' since 2005 including ING Investment Management, Principal Global Investors, US-headquartered BlackRock, French Credit Agricole Asset Management and Belgium-based Dexia Asset Management.
