Northern Horizon’s third institutional healthcare real estate fund has raised €300 mln of equity commitments in its final close, with investors consisting of a small group of European institutions.
'Having exceeded our original €250 mln fundraising target, we are grateful for the trust the institutional investor community continues to place in us,' said fund manager Michael Schönach. 'The rapidly ageing population is one of the biggest societal upheavals of our time and we are proud to contribute to solutions to the challenges it presents. Our mission remains to fund the desperately needed new supply of modern and high-quality care facilities for those senior citizens who are no longer able to live independently.'
The Nordic Aged Care Fund will target a total of €600 mln of acquisitions, added portfolio manager Andreas Michelsson. 'We are already about halfway through committing the fund’s equity capital and we have a strong off-market pipeline for the other half.'
Nordic Aged Care was launched in 2016 and focuses on the development and acquisition of modern and high-quality care homes, leased to leading public and private care operators on long contracts.
Northern Horizon was advised by Capra Global Partners and Loyens & Loeff on the fundraising.