Nordic real estate investment firm Nordika said on Thursday that it has raised SEK 2.35 bn (€200 mln) from a group of global institutional investors for its fund IV.
The capital raise is more than double the equity the firm raised for its previous fund, Nordika III and above its target of SEK 2.0 bn.
'In a market where fundraising is down 80%,it is a sign of strength, given Nordika’s historic top-tier track record,' the company commented.
Nordika has already committed 25% of the equity in two separate transactions since first close.
The fund will continue to invest in value-add real estate investments, with a target to deliver opportunistic returns from special situations supported by yielding income assets. The investment mandate includes a broad range of real assets across the Nordic region.
Nordika invests mainly in commercial realestate in Sweden, Finland and Norway. Earlier this year the company became a major shareholder in the Swedish-listed logistics and light industry property company Logistea and took a major share interest in the Norwegian listed light industry and net-lease property company KMC Properties.