Northern Horizon has reached a final closing of its fourth Nordic aged-care Fund, ACIV.
The fund closed at €324 mln of capital commitments which makes ACIV the largest fund in the firm’s age care series.
The equity haul provides firepower of €648 mln when including potential borrowing.
Milda Dargužaite, CEO, said: ‘We see a lot of opportunities in the market at the moment and are very well positioned to create value for our investors.’
Dargužaite said investors were ‘attracted by the fund’s value proposition’, offering stable cashflows and an opportunity to help solve a growing societal challenge.
The fund invests in modern, fit-for-purpose care homes across the Nordics. The fund’s strategy is built on the global demographic megatrend of an ageing population which is generating strong growth in the underlying aged care real estate sector.
Investors were both existing and new, including prominent pension funds, insurance companies, asset managers, endowments, and family offices from across Germany, France, UK, Finland, Switzerland, and Iceland.
JLL acted as the exclusive capital advisor and European placement agent.
