CapMan Nordic Real Estate II has held a first and final close at €425 million. The oversubscribed vehicle will follow the same strategy as the firm's previous Nordic real estate fund, investing primarily in the office, retail and residential sectors in Sweden, Finland, Denmark and Norway.
The vehicle received support from both new and existing investors based in the Nordics, the rest of Europe and the US.
CapMan Nordic Real Estate I closed at €273 million in March 2015. Limited partners in this fund included SITRA, Florida SBA and Ilmarinen Mutual Pension Insurance Company.
Scala Fund Advisory, Wren Capital and Ashurst provided advisory services to CapMan Nordic Real Estate II.