Privately owned Nordic fund manager NRP has announced that its latest vehicle, NRP fund VIII, is fully invested in a diversified pan-Nordic real estate portfolio, with an overweight on logistics.
The fund had a target size at NOK 1.5 bn (€150 mln) and was oversubscribed and closed at NOK 1.6 bn.
NRP has also launched fund X with a similar core-plus strategy, and raised more than the fund target size at NOK 1.5 bn. The fund already has two investments in place, and a hard cap of NOK 2 bn.
NRP manages several funds, with a core-plus strategy and a diversified portfolio across all the Nordic countries, focusing on office and logistics properties. Last year, NRP also established a fund structure with Allianz and CBRE GIP, fund IX. This comprises a portfolio of eight logistics properties worth €450 mln.
'2019 was an active year for our funds. Our business model enables us to divest and secure profits for our investors when opportunities arise. During the year, we have acquired and realised both stand-alone assets as well as a portfolio,' said CEO Ove Christian Norheim.
Oslo-based NRP is one of the largest non-listed real estate fund managers in the Nordics.