Pan-Nordic real estate investment manager, Nordic Real Estate Partners, held a final closing of its NREP Nordic Strategies Fund II (NSF2) with an investment capacity of €1.7 billion. Goodwin represented NREP on the establishment of the fund, which will be invested primarily in the modern logistics, necessity-driven retail and residential sectors in Denmark, Sweden, Finland and Norway.
NSF2’s investors include a broad range of Nordic, European and U.S. blue chip institutions. With strong support from investors in the predecessor fund, NSF2 was significantly oversubscribed. NSF2 is already 35% committed and is expected by NREP to be more than 50% committed by the end of 2016.
NREP is a leading Nordic private equity real estate firm focused on generating superior risk-adjusted returns for institutional investors by working with thematic, value-add investment strategies and hands-on asset management. Since it was founded in 2005, NREP has raised nine funds and executed more than 280 property acquisitions and developments in the Nordic region, of which 80 have been exited. The firm currently has total assets under management of €3.2 billion.
The Goodwin team advising NREP was led by partners Samantha Lake Coghlan, Paul Lyons and Brynn Peltz; counsel Glynn Barwick; and associates Alan Skerritt, Adam Aramati, Colin Baker and Bhargavi Mudakavi.