Fokus Asset Management said on Thursday that it has taken over Heimdal Nordic as part of plans to expand into real estate debt.
The deal follows the acquisition by Fokus of Swedish investment and asset manager Scius Partners in March 2022.
Heimdal Nordic was established in 2017 by Peter Lilja. Heimdal Nordic is a Danish debt asset manager and adviser focusing on real estate debt. Heimdal Nordic works with all aspects of real estate lending services; from advisory, origination, asset management and loan servicing, to handling distressed debt and establishing direct lending platforms for institutional investors.
Business partners include Danish pension funds, international and Danish investors as well as global investment banks.
Fokus said that it sees Heimdal Nordic as a complementary business to Fokus’ current investment and asset management services within real estate. ‘For a long time, direct lending to real estate has been a growing asset class across the US and Europe and now also increasingly in the Nordics – and together with Heimdal Nordic, the Fokus Group can now assist business partners in creating returns from real estate irrespective of it being via acquisitions or financing,’ Fokus said.
Heimdal CEO Peter Lilja and the management of Heimdal Nordic will retain their positions within the company. The Heimdal Nordic team has participated in transactions within property financing totalling more than DKK 35 bn (€4.7 bn) and the company’s eight staff members currently has DKK 4.3 bn (€450 mln) in AuM.
The combined business of Heimdal Nordic and the Fokus Group will be approx. DKK 37 bn (€5.0 bn) in AuM and the staff comprises approx. 75 employees. The Fokus Group and Heimdal Nordic already has business presence in three of the Nordic countries – Denmark, Sweden and Finland.
Tonny Nielsen, CEO and Partner at Fokus Asset Management said; ‘The acquisition of Heimdal Nordic is a further step in realising our strategic goal of covering the entire Nordics within investment, asset management and debt asset management. We are looking forward to joining forces with the team at Heimdal Nordic and expanding our business in the Nordics.’
Peter Lilja, CEO at Heimdal Nordic added: ‘Being part of the Fokus Group will bring Heimdal Nordic to the next level and spread the business further into the Nordics. Working with institutional investors, means focusing on creating stable, good returns but also that good governance and compliance are prerequisites for running a business at all. By joining our forces with the Fokus Group, we will strengthen our platform and thus the ability to offer our business partners optimal risk adjusted returns in the Nordic real estate investment universe.’
The financial details of the deal were not disclosed.
