Northern European fund manager Niam has acquired Brunswick Real Estate Capital, the debt business of Brunswick Real Estate.
Financial details were not disclosed.
The firm, which has €2.5 bn in assets under management, will be led by CEO Pontus Sundin and will operate as an independent company under Niam Credit.
Brunswick Real Estate Capital, established in 2013, operates in the Nordic market offering alternative credit solutions for the commercial real estate sector. To date, the company has launched three funds, and its ESG focus includes further developing sustainability-linked credit solutions for the real estate industry.
Founded in 1998, Niam manages funds across the Nordic real estate market.
Jennifer Andersson, managing partner at Niam, said: 'Over the years, we have gradually diversified our fund portfolio with strategies covering different property segments and risk-profiles.
'In 2021 we launched an infrastructure platform focusing on sustainable investments in renewable energy, transport and telecom. Credit is a natural next step for us and complements our existing business.
'With the acquisition of Brunswick Real Estate Capital, we broaden our offering further and become an even more attractive partner for institutional investors.'
Added Pontus Sundin, CEO of Niam Credit: 'Niam is one of Northern Europe's largest fund managers within the real estate sector and has a strong track record and brand which gives us the right conditions to further develop our credit platform.
'Also, Niam, just like us, has a genuine focus on sustainable development in the real estate industry. Together, we can now satisfy the investors’ demand for credit funds and offer real estate players alternative and sustainable credit solutions.'
Brunswick Real Estate Capital has structurally reviewed over 800 credit opportunities with a total value of around €40 bn to date, and financed over 150 properties to the tune of €3 bn.
