After less than a year in the market, the Stockholm-based private equity real estate firm, Areim, which was formed in 2003 as the Nordic investment partner of global heavyweights including The Blackstone Group and ING Real Estate Investment Management, has raised approximately half of the capital it wants for its AREIM Fund III vehicle in a first closing.
Backed by a track record of consistent overperformance, Areim has once again attracted the world’s leading institutional investors into the fund, Allianz Real Estate, the Fourth Swedish National Pension Fund (AP4), and Riksbankens Jubileumsfond, after having invested in prior funds. PRI Pensionsgaranti is a first time investor.
Areim is hoping to complete capital raising for the fund during the first half of 2016 and is targeting in total SEK 4 billion.
“We are very honoured to have the continued confidence of some of the world’s top institutional investors”, commented Leif Andersson, Founder of Areim AB, “and we expect additional capital to be secured during 2016.”
Similar to its predecessor funds, Areim Fund III will look to make value-add investments in the form of office repositioning, retail investments, and residential development within the Nordic countries. The fund is a 12-year vehicle with a three-year investment horizon.
Name: Leif Andersson
Phone: +46 70 454 65 20