ABP of the Netherlands, the world's third largest pension fund has teamed up with ATP, the largest pension fund in Denmark, and an affiliate of GIC Real Estate, the real estate investment arm of the Government of Singapore Investment Corporation, to commit around SEK 700 mln (EUR 77 mln) each to a recently launched Swedish real estate fund.
ABP of the Netherlands, the world's third largest pension fund has teamed up with ATP, the largest pension fund in Denmark, and an affiliate of GIC Real Estate, the real estate investment arm of the Government of Singapore Investment Corporation, to commit around SEK 700 mln (EUR 77 mln) each to a recently launched Swedish real estate fund.
The combined total of around EUR 231 mln is being invested in the AREIM Fund 1, which started on 1 September and is focused mainly on office properties in large Swedish cities. The initial lifetime of the fund is eight years and the investment period is three years. AREIM was founded in Stockholm 2003, and its advisory and asset management clients include US-based Blackstone and ING Real Estate of the Netherlands.
