Sveafastigheter holds second closing for new Nordic fund

Nordic real estate private equity house Sveafastigheter has carried out a second closing for its new fund, Sveafastigheter Fund III. Including previous commitments, the fund now has received funds totalling over EUR 120 mln.

The vehicle is an opportunistic blind pool fund targeting real estate investments in primarily Sweden and Finland with target total commitments of EUR 300 - 400 mln, which the fund is expected to achieve by December this year. Investors in the fund include some of Sweden's largest institutional investors, but also a number of well-reputed global investment houses, the company said.

'Over the last few months the real estate markets in the Nordic region have shown clear signs of a return to liquidity and we are building a pipeline of attractive opportunities and expect to close a first transaction shortly,' said Simon de Château, CEO of Sveafastigheter.

Since 2004 Sveafastigheter has carried out transactions with a combined property value of more than EUR 2 bn. Its first opportunistic real estate fund, Sveafastigheter Sverige I, was launched in 2003. Sveafastigheter is based in Stockholm with offices in Helsinki and Malmö.

Aberdeen also recently announced that it had raised a total of EUR 127 mln for domestic funds in Finland, Norway and Denmark as well as for its pan-Nordic fund.