Swedish private equity real estate firm Sveafastigheter said it has raised around EUR 90 mln of equity in the first closing of its third Nordic property investment fund. The funds were collected from Swedish institutional investors, high network individuals and the company management, it added.

Swedish private equity real estate firm Sveafastigheter said it has raised around EUR 90 mln of equity in the first closing of its third Nordic property investment fund. The funds were collected from Swedish institutional investors, high network individuals and the company management, it added.

The company is looking to raise up to EUR 300 mln of additional capital for Sveafastigheter Fund III, which will concentrate on investment in Scandinavia, with a primary focus on Sweden and Finland, and secondly on Norway and Denmark. The fund may also invest a limited portion of its capital in the Baltic States.

'We are proud to have received renewed confidence from our investors at a time when financial markets have been shaken,' said Simon de Château, CEO of Sveafastigheter. 'Our proven model of working closely with local government partners will enable us to find exclusive acquisition opportunities and continue to actively create value during the holding period, rather than simply relying on ever-rising property prices', he added.

Sveafastigheter launched its first fund in 2003, with a committed capital of EUR 50 mln and a focus on Sweden. The second fund, which is primarily invested in Sweden and Finland, raised EUR 130 mln of equity commitments.