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06-04-16

Alma Property Partners holds first close for pan-Nordic opportunistic fund

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Stockholm-based real estate investment company has raised capital from a group of institutional investors and is 40% of the way toward the target amount.

Alma Property Partners, a real estate investment company founded 18 months ago by a group of senior real estate professionals with backgrounds from leading Nordic real estate investment companies, has raised 775 million Swedish crowns (84 million euro) for its first pan-Nordic opportunistic fund, Alma Property Partners I. The capital was committed primarily from four Nordic institutional investors. Alma is targeting to raise two billion Swedish crowns (215 million euro) in total for the vehicle.

“The first close for our pan-Nordic opportunistic fund represents a major milestone for our company. We are especially proud that several high quality institutional investors supported the first close,” says Simon de Château, Partner and CIO of Alma Property Partners. Mr. de Château was previously a co-founder and the CEO from 2003 to 2013 of Sveafastigheter, which pioneered Nordic real estate fund management.

“Our transaction pipeline is robust and we see excellent investment opportunities at the moment,” continues Simon de Château, who is responsible for Alma’s real estate investment strategies. Alma Property Partners I completed its first transaction in February 2016, acquiring 53 apartments in Copenhagen and Lyngby in Denmark, using capital that was committed by the founders and a group of private professional investors.

Alma Property Partners was co-founded in 2014 by Simon de Château, Sloan Wobbeking and Christofer Lundquist. Sloan Wobbeking, Partner and CEO of Alma, was previously with Niam and Christofer Lundquist, Partner and COO of Alma, was most recently with Hemsö and Kungsleden. Jacob Annehed, formerly CFO at Nordic Real Estate Partners, joined the Alma management team in 2015 as Partner and CFO.