Stockholm-based fund manager Areim said on Thursday that Allianz Real Estate has committed SEK 643 mln (EUR 75 mln) to its Areim Fund II, which will focus on value-added investments in Sweden.
Stockholm-based fund manager Areim said on Thursday that Allianz Real Estate has committed SEK 643 mln (EUR 75 mln) to its Areim Fund II, which will focus on value-added investments in Sweden.
Together with existing committed capital of SEK 1.6 bn from Singapore’s sovereign wealth fund GIC, Dutch civil service pension fund APG and Swedish pension fund AP4, the total committed capital to Areim Fund II amounts to SEK 2.3 bn.
‘We are very pleased to have an additional high-calibre investor such as Allianz investing in Areim Fund II,’ commented Leif Andersson, CEO of Areim. He added that the company was in discussions with additional interested parties and expected to expand its investor base further in the near future.
Like its predecessor, Areim Fund II will pursue value-added investments in the form of office repositioning, retail investments and residential development projects in Sweden with a focus on Stockholm. The fund is an eight-year vehicle with a three-year investment term and a total investment volume of around SEK 6-7 bn when fully committed.
