Brunswick Real Estate announces final close of SEK 6.6 billion (MEUR 640) in largest Nordic real estate debt fund
Stockholm, 26 June 2018
Brunswick Real Estate has successfully held the final close of its second senior debt fund in the Nordics, thereby reaching over SEK 8.5 billion (MEUR 830) under management. Main investors are some of the region’s largest institutions. This further reinforces real estate debt as an asset class as well as the continuing investor demand for Nordic commercial real estate debt.
Brunswick Real Estate Capital, the credit arm of Brunswick Real Estate, is the leading Nordic capital provider focusing solely on Nordic real estate debt. Brunswick Real Estate Capital has successfully held the final closing of its second senior debt fund reaching over SEK 6.6 billion (MEUR 640) of commitments, by far the largest Nordic fund focused on real estate senior debt. Investors are Nordic institutional investors including, among others, existing investors Norway’s largest life insurer Kommunal Landspensjonskasse (KLP), Swedish insurance and pension savings company Folksam Group and Swedish PRI Pensionsgaranti.
Louise Richnau, CEO and Partner of Brunswick Real Estate Capital, said:
“We are very pleased to see the support and trust among our investors. Despite high demand for Nordic real estate and Sweden consistently being one of the most liquid real estate markets in Europe, the availability of financing to borrowers has historically been volatile. Real estate is an asset class with a long investment horizon which requires long-term capital on the equity as well as on the debt side, which unlevered institutional capital can offer.”
Michael Kjeller, Chief Investment Officer, Folksam Group, said: “Investing in long-term senior debt is a good alternative to our fixed income portfolio, especially with the current low yield environment and uncertainty in the market. As a pension savings company with an infinite perspective, the risk-reward is attractive and with Brunswick Real Estate as our investment manager we get the sought after exposure and efficient management.”
Brunswick Real Estate Capital broke new ground in 2013 when it launched the first fund focused solely on Nordic real estate debt. Brunswick Real Estate Capital II is an unlevered closed ended real estate debt fund offering senior secured lending in Sweden, primarily in the range of SEK 400 to 1,000 million per loan with a term of up to ten years.
For more information please contact:
Louise Richnau Partner, Brunswick Real Estate, Investment Management Debt
t. +46 70 346 22 19
Brunswick Real Estate is one of the Nordic region’s leading investors in the Nordic real estate market, with an offer including investment management through real estate investment and debt financing. The group has repeatedly been awarded best in class within its areas by Preqin and Euromoney. The team comprises about 50 people in Stockholm, Helsinki and London. www.brunswickrealestate.com
Brunswick Real Estate Capital is an investment adviser to Brunswick Real Estate Capital, FCP-SIF (the “Fund” or “Brunswick Real Estate Capital II”), an unincorporated co-proprietorship of investments organized in the form of a mutual fund with multiple compartments/Sub-funds governed by the laws of the Grand Duchy of Luxembourg which has obtained the authorisation of the Luxembourg Supervisory Commission of the Financial Sector. The Fund is subject to the law of February 13, 2007 relating to specialized investment funds, as amended or supplemented from time to time and qualifies as an alternative investment fund within the meaning of the Luxembourg law of 12 July 2013, as may be amended from time to time. Crestbridge Management Company S.A. is appointed as an external alternative investment fund manager to the Fund. www.brunswickrealestate.com_debt-investment-management