Tristan Capital Partners’ fourth opportunity fund has invested SEK900m (€94m) in a Swedish retail portfolio.
The manager’s European Property Investors Special Opportunities IV (EPISO 4) fund bought four local shopping centres in the greater Stockholm region and a retail park in northern Sweden.
The assets were sold by a fund managed by Aberdeen Asset Management.
Daniel Harris, managing director for the Nordic and CEE regions at Tristan, said: “The retail sector is enjoying a period of sustained growth as a result of the robust performance of the Swedish economy.
“The acquisition of this portfolio of local convenience shopping centres, primarily in Stockholm, offers a strong platform to benefit the increasing buying power of the Swedish consumer.”
The company said Sweden’s economy was forecast to grow by 4% this year after expanding by 4.1% in 2015, with household consumption rising on average by 2% in each of the last five years.
The purchase of the portfolio is the second investment by a Tristan fund in the Swedish market.
Tristan said it had found a new operating partner, developer and asset manager, Elisby Fastigheter, for the portfolio.
