Niam has raised commitments of €134 mlon in the first close of its Nordic Core-Plus II fund.
The Stockholm-bsased real estate private equity firm commenced marketing in February 2016, and the first close represents 45% of the targeted fund size. Most of the capital comes from German, Dutch and Swedish pension funds and financial institutions who are existing investors.
Niam Nordic Core-Plus II will be an income producing fund with a net IRR target of 8% and an annual income yield of 5%. The fund will specifically target office, retail and residential property investments in the four Nordic countries. The fund will invest through Niam’s organisation locally located in Stockholm, Oslo, Helsinki and Copenhagen and is a continuation of the successful investment platform established with Niam Nordic Core-Plus I.
Johan Bergman, Niam CEO, said: 'We are very happy with the successful first close in our new core-plus fund and appreciate all the support from our exiting investors. We continue to see great income producing opportunities in real estate in our markets.'
Niam is currently actively managing a real estate portfolio of €2.9 bn through its four funds Niam IV, Niam V, Niam VI and Niam Core-Plus I.
The company has real estate assets under management of approximately €2.9 bn in the Nordic property markets. Niam was established in 1998 and has invested over €6 billion through its own funds since 2000.
