Nordic real estate private equity firm Niam has completed the final close for its sixth opportunistic property fund, Niam Nordic VI, with €800 mln in total equity commitments.
Nordic real estate private equity firm Niam has completed the final close for its sixth opportunistic property fund, Niam Nordic VI, with €800 mln in total equity commitments.
The investors in Niam Nordic VI are a mixture of global public and corporate pension funds, sovereign wealth funds, endowments, family offices, insurance companies, fund of funds and financial institutions.
'We originally had a hard cap at €750 mln but increased it to €800 mln so that a few more of our existing investors would be able to participate. Even though the demand for Niam VI was high, we wanted to make sure that we would have a fund which is an appropriate size for the current market environment in the Nordics,' said Johan Bergman, CEO of Niam.
Niam manages €2.3 bn of assets in Northern Europe.The latest fund launch comes shortly after Niam's acquisition last week of two residential portfolios in Aalborg, Denmark in two independent transactions involving a total of 46,500 m2 of space.
In November last year Nordic private equity group Niam purchased all the shares in Hinna Park Invest, the holding company for two office properties in Stavanger, Norway for €178 mln.
The properties at Jåttåvågveien 10-12 date from 2012 and offer a total area of 66,000 m2 let to Aker Solutions and ASA Akastor.
