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AREIM appoints Skogestig as CIO

The Nordic private equity real estate firm has hired its first chief investment officer, adding Johanna Skogestig to lead a push in acquisitions and dispositions.

In its second major hire in the past five months, Stockholm-based Andersson Real Estate Investment Management (AREIM) has appointed Johanna Skogestig to a new position as chief investment officer, starting March 3. The hire marks the end of year long search to fill the position by the Nordic-focused private equity real estate firm, according to AREIM chief executive Therese Rattik.

In an email to PERE, Rattik cited Skogestig’s investment track record, experience and contacts in the Nordic market as reasons for adding her to the team. “Also the fact that her personality and values are a perfect match with the AREIM culture, which is very important for us,” stated Rattik.

Skogestig will join AREIM from Nordic property fund manager Sveafastigheter where she served as head of operations in Stockholm and deputy chief executive since 2013. She was also responsible for investments at Sveafastigheter throughout last year. Prior to Sveafastigheter, Skogestig worked as a member of the management team and investment board at AP Fastigheter, the wholly owned real estate arm of the Swedish National Pension Funds. 

AREIM chose to hire a CIO at this time due to a projected increase in its funds business. Rattik stated that in the next three years, AREIM will both be selling and buying properties for “around SEK 10 billion” (€1.13 billion; $1.55 billion) for its two funds as the vehicles reach different stages in their lifecycles. AREIM Fund I closed on SEK 2.1 billion in 2007 and AREIM Fund II closed on SEK 2.8 billion in June of last year.

“AREIM has already completed two large transactions during 2014 for our second real estate
fund, AREIM Fund II, and we have several years ahead of us with large and interesting deals,” said Rattik in a statement. “Johanna further strengthens our already established transaction team.”

In September, PERE reported on Rattik’s own appointment to chief executive. Rattik assumed the head position from her former role as a longtime partner when founder Leif Andersson stepped down to focus on transactions, investor relations and business development.