GLOBAL - Sveafastigheter, the Stockholm-based opportunistic real estate manager, has reached its capital-raising target for its latest Nordic opportunist fund after securing commitments from global investors.
The fund manager has held a third and final closes for Sveafastigheter Fund III, having raised €317m in equity from local, European and US investors.
Sveafastigheter made a second closing in October 2010 and stated its target for the fund was €300m-400m.
Simon de Château, chief executive at Sveafastigheter, said: "We are very pleased about reaching our target and raising almost twice as much as our two previous funds combined, despite a very challenging fund raising environment.
"It is a credit to our entire organisation. We are equally humbled and inspired by the confidence shown by some of the most renowned investors in the world."
Participants in the final closing mainly consist of leading global institutional investors, with commitments divided equally between Nordic, other European and non-European (mainly US) investors.
First Avenue Partners in London, Park Madison Partners in New York and Leimdörfer in Sweden were the three placement agents employed for the capital-raising programme.
Sveafastigheter Fund III is an opportunistic fund focusing on real estate investments in the Nordic/Baltic countries, primarily Sweden and Finland.
Sveafastigheter has already deployed close to 10% of the capital raised through four acquisitions in Sweden and Finland, within the hospitality, office and logistics segments.