Fund management company Absolute Capital Management Holdings (ACMH) has acquired North Asset Management's interest in the management contract of the EUR 100 mln North Real Estate Opportunities Fund (NREOF). AIM-listed NREOF was established to cash in on the growth of disposable income in the Central and Eastern European region. Since its IPO in August last year, it has acquired or developed retail and mixed-use developments in Romania, Ukraine and Moldova.
Fund management company Absolute Capital Management Holdings (ACMH) has acquired North Asset Management's interest in the management contract of the EUR 100 mln North Real Estate Opportunities Fund (NREOF). AIM-listed NREOF was established to cash in on the growth of disposable income in the Central and Eastern European region. Since its IPO in August last year, it has acquired or developed retail and mixed-use developments in Romania, Ukraine and Moldova.
ACMH says it is committed to supporting NREOF’s continued growth and investment. It claims it can provide significant added value through its expertise in emerging markets, the region's banking and credit sectors, and its exposure to a range of direct real estate investments. It intends to assist NREOF in raising further capital to fund its pipeline of identified acquisitions and developments in Ukraine and Romania. It also plans to change NREOF’s name to Absolute Real Estate Opportunities Fund.
