Fund manager of €1b wooden building vehicle revealed

Real estate investor and manager, Cromwell Property Group, has announced the fund manager of its innovative European Wooden Building Property Fund.

Eeva Saravuo has stepped into the position, charged with handling the new vehicle being established with Finland-based sustainable real asset manager, Dasos Capital.

She was most recently fund manager at Abrdn’s Finnish and Nordic funds, as well as deputy fund manager for an open-ended real estate fund investing in continental Europe.

Pertti Vanhanen, Cromwell Europe's chief who took over the helm earleir this year, is the former global co-head of real estate at Abrdn.

As previously reported, the firm's new open-ended fund will target an initial first close of €100 mln in equity by the end of calendar year 2021, with a target portfolio value exceeding €1 bn over the longer term.

Robert Cotterell, head of investment, Europe, said: ‘We believe this fund provides a unique and compelling investment opportunity and Eeva’s experience and background will be fundamental to its success.’

Eeva Saravuo, said: ‘The technology and expertise to develop wooden buildings in all sectors has evolved to a point where it is now a scalable and attractive investment asset class suitable for both large institutional, as well as other smaller, investors.’

She holds an MSc in Real Estate Economics and Valuation from the Helsinki University of Technology as is a certified financial analyst.


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