Sveafastigheter launches its second fund
Sveafastigheter Fund II has an acquisition capacity of approximately EUR 1 billion and will focus on property investments in Sweden, Finland and other countries around the Baltic Sea
Sveafastigheter now launches its second fund for property investments aimed at Swedish and international institutional investors. In a first closing the new fund has received commitments totalling SEK 600 million (EUR 64 million). In the coming two months, Sveafastigheter plans to obtain commitments of a further SEK 400 – 600 million (EUR 43 – 64 million), which means that total fund commitments at the final closing will amount to SEK 1.0 – 1.2 billion (EUR 105 – 125 million). The intention is to acquire properties with an underlying value of SEK 10 billion (EUR 1.1 billion) in the coming years.
Investors in the fund are approximately 30 Swedish and international institutions and individuals and the majority of funds in the new fund is committed by investors that invested in Sveafastigheter’s first fund, Sveafastigheter Sverige I, which was launched in 2003. Since then the fund has carried out acquisitions with an underlying property value of close to SEK 5 billion. All larger investors in the first fund have committed to investing in Sveafastigheter Fund II as well.
Unlike Sveafastigheter Sverige I, which invested exclusively in developed properties in Sweden, Sveafastigheter Fund II will also carry out acquisitions outside of Sweden and take part in development projects.
– We are pleased that the investors have given us a vote of confidence to start a second fund and look forward to carrying out acquisitions on a larger geographical market than we have previously done. In our opinion there are continued opportunities for attractive acquisitions in Sweden and Finland, as well as the rest of the Baltic Sea region by using our investment model which has been very successful in the first fund, says Simon de Château, CEO of Sveafastigheter.
About Sveafastigheter
Sveafastigheter is a private equity firm focusing exclusively on property investments. The company launched its first fund, Sveafastigheter Sverige I in 2003. In April 2006, Sveafastigheter launched its second fund, Sveafastigheter Fund II.
Sveafastigheter Fund II is a real estate investment fund directed at institutional investors. The fund has a capacity for acquiring properties with a value of approximately SEK 10 billion. The fund will primarily target portfolios with a high and sustainable current income, independent of location and type of property.
Sveafastigheter has since 2003 acquired properties with an underlying value of SEK 5 billion with total lettable space of 700,000 square metres.
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For comments and further information, please contact:
Simon de Château, CEO Sveafastigheter, direct 08-545 075 01, mobile 0708-48 51 52 simon.de.chateau@sveafastigheter.se
More information about Sveafastigheter is available at www.sveafastigheter.se.