Andersson Real Estate Investment Management (AREIM), the Nordic private equity real estate firm, has announced that long-time partner Therese Rattik will be taking over as chief executive of the firm. She assumes the mantle as founder Leif Andersson steps down to focus on transactions, investor relations and business development, according to a firm statement.
Rattik has been with AREIM since its inception in 2003, and has played a leading role in several of its transactions. Rattik became a partner at AREIM in 2007, when the firm launched its first real estate fund. AREIM Fund I closed on SEK 2.1 billion (€241 million; $318 million) that same year, and its capital is now fully invested.
AREIM also closed its second fund in June this year slightly under target, garnering SEK 2.8 billion from investors like Allianz Real Estate, the Government of Singapore Investment Corporation, Algemene Pensioen Groep (APG) and AP4, the Fourth Swedish National Pension Fund. Similar to its predecessor, the eight-year AREIM Fund II is pursuing value-added investments in office repositioning, retail and residential development projects in Sweden with a focus on Stockholm. Altogether, the fund will have a total investment capacity of SEK 6 billion to SEK 7 billion.
“Our existing portfolio also consists of a number of exciting leasing, asset management and project development opportunities,” Rattik said in the statement. “It will be both challenging and exciting to continue to lead and develop AREIM’s business together with our skilled and experienced team in my new role as the CEO.”
“[Rattik] has both my and our investors’ confidence in leading AREIM as we continue to grow and expand,” says Andersson. “I look forward to being able to focus entirely on what I do best and where I add the most value – creating business.”
AREIM was originally founded to be the Nordic investment partner of groups including The Blackstone Group and ING Real Estate Investment Management – now part of CBRE Global Investors – and still acts as their operating partner. The firm has about SEK 4.9 billion assets under management at this point.