Aberdeen Property Investors is to launch a pan-Nordic fund that it hopes to expand to around €1.5bn.
The fund will provide access to a diversified portfolio of real estate in Denmark, Finland, Norway and Sweden. It will also consider investments in the Baltic states, but these will be limited to less than 15% of the total portfolio.
Trygve Sletteberg, fund manager of Aberdeen Property Investors, said: “The Nordic market offers the best outlook in Europe over the next five years.”
The fund aims to raise €100m of equity at its first closing, with an ultimate targeted gross asset value of around €1.5bn. There is a minimum subscription of €10m for institutional and €1m for non-institutional investors.
It aims to achieve a total return on equity of 10-15% pa, net of fees and taxes.
Strutt & Parker Real Estate Financial Services has been appointed to market the fund.
