Aberdeen Property Investors has said it is finalising plans to launch a Russian direct property fund for institutional investors. 'Many of our institutional clients have expressed an interest in gaining exposure in the Eastern European property markets and want to have a professional partner with local resources,' commented Ubbe Strihagen, international director of Aberdeen Property Investors. 'We have spent the last 12 months preparing for our expansion into Russia and are now in the final stages of structuring our first Russian fund'. The fund should be up and ruining during the third quarter of this year, he said.
Aberdeen Property Investors has said it is finalising plans to launch a Russian direct property fund for institutional investors. 'Many of our institutional clients have expressed an interest in gaining exposure in the Eastern European property markets and want to have a professional partner with local resources,' commented Ubbe Strihagen, international director of Aberdeen Property Investors. 'We have spent the last 12 months preparing for our expansion into Russia and are now in the final stages of structuring our first Russian fund'. The fund should be up and ruining during the third quarter of this year, he said.
In addition, Aberdeen is putting together a new team to manage commercial real estate investment in Eastern Europe - with an initial focus on Russia. The team will be based at Aberdeen's new office in St Petersburg, and work alongside existing Aberdeen investment managers who are based in Finland. Aberdeen said it has recruited a number of investment specialists from regional fund manager Baltic Property Trust.
