Aberdeen Asset Management has received €151.5 mln of initial commitments for its new Aberdeen European Secondaries Real Estate fund, with Första AP-fonden (AP1) as lead investor.
Aberdeen Asset Management has received €151.5 mln of initial commitments for its new Aberdeen European Secondaries Real Estate fund, with Första AP-fonden (AP1) as lead investor.
In a statement, Aberdeen said that its Property Multi-Manager team will build a portfolio of around 15 funds which will have exposure to over 200 properties in Europe. Lars Graneld and Johan Temse will be the lead managers.
The fund will have a final close by September 2014.
'We believe that providing liquidity to a market where sellers far outnumber buyers, combined with the increased interest for investments beyond core in Europe, will provide us with investment opportunities with attractive risk-adjusted return,' said Tomas Svensson, portfolio manager Real Estate at AP1.
Aberdeen currently manages €2.5 bn in European property multi-manager mandates, with further assets under management in Asia and the Americas.
